Lundetre becomes manager at Blystad
Rune Magnus Lundetwood will be the new CEO at Arne Blystad, where he will start after the summer holidays.
Article taken from Finansavisen.no - read full article here.
Picks up rig top as new Blystad boss
Rune Magnus Lundetwood will be the new CEO at Arne Blystad, where he will start after the summer holidays.
Four months ago, Finansavisen wrote that Fredrik Platou is quitting as CEO at Arne Blystad after the group had earned NOK 5.7 billion in three years.
Now it is clear that Arne Blystad will bring in the former Seadrill and Drill Drilling Director Rune Magnus Lundetwood (48) to take over the day-to-day management of the management company Arne Blystad from August.
Lundetre is a graduate of Economics from England and holds a postgraduate degree in accountancy from NHH. Besides management positions in Seadrill and Borr, he has experience from DNB Markets.
Since October 2023, Lundetwood has led the effort to fully finance and reactivate the three drilling vessels that make up the fleet of Eldorado Drilling.
Ordered new construction in China
Lundetre and Blystad know each other well through Blystad's heavy transport company Offshore Heavy Transport (OHT) and its investment in jackable installation vessels for wind turbines.
Initially, Lundetwood took the initiative to order one such vessel at a shipyard in China under the auspices of Wind Offshore Installation, which was founded by him in 2020. Later the company became part of OHT and eventually Seaway 7 by the merger between OHT and Subsea 7's vessels intended for use in the offshore wind market.
To Finansavisen, Lundeträge confirms that he will start in his new job after the summer holidays.
'It will be a very exciting challenge, 'he says, declining to give further comment at this time.
After all, it's four months until I join.
Standing on three legs
In 2023, the Blystad Group had its best ever result with a pre-tax profit of NOK 2.5 billion. That came on top of two profitable years in 2021 and 2022.
Kapital valued Blystad at NOK 11 billion last autumn following strong results in both finance and shipping. Ten years ago, its wealth was estimated at £3.4 billion after a steep downturn in the wake of the 2008/2009 financial crisis. Since 2021, Blystad's net worth has doubled.
Blystad has three legs; shipping, financial investments and real estate.
In shipping, the largest investments are in a fleet of product and chemical tankers. In addition, the group owns several container ships that are contracted on long contracts to solid counterparties.
Through the listed Greek shipping company Star Bulk Carriers, in which John Fredriksen has just bought 10 per cent of shares, the group also has ownership interests in dry cargo.
Owned from London
Last summer, the lion's share of the shares in Blystad Group was transferred to married couple Arne and Marianne Blystad and Arne Blystad's youngest daughter Anette Kristine Blystad, who lives in London.
Through her company AKB II, she took over 42.7 percent of the shares in Blystad Group. Previously, she sat through another company, AKB with a 27.2 percent stake and now owns a total of 70 percent of the group.
The rest of the ownership is distributed among companies owned by her sisters Agnes Marie Blystad Sulejewski and Julie Josephine Blystad Fürst and Arne and Marianne Blystad's company Blystad.
In the past, the sisters held similarly sized records. The change was registered on June 1, 2024.
Via Lundetre becomes manager at Blystad by Bjørn Segros, taken from Finansavisen.no 07.04.2025
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