Kjell Almskog
Encyclopedia
Kjell Erik Almskog is a Norwegian
businessman. He is the former chief executive officer
of several companies, including the Norwegian division of the ABB Group and Kværner
.
as a son of company manager Reidar Juel Almskog (1910–1982) and Aslaug Magnhild Carlsen. He finished
his secondary education in 1959, and received his MBA from the University of Kansas
in 1964. He took the Advanced Management Program at Harvard University
from 1974 to 1975.
in London from 1967 to 1971, before becoming the marketing director at Simrad from 1971 to 1976. He became a director in Elektrisk Union in 1976 and then chief executive officer of its daughter companies National Industri in 1979, then National Elektro in 1981. In 1986 he became chief executive officer of Elektrisk Bureau
, which soon merged with Elektro Union. In 1988 it also merged with ABB. Almskog remained the chief executive of ABB Norway until 1998, and in the autumn he was promoted to vice chief executive at ABB's main headquarters in Switzerland
. During his time at ABB, Almskog built up the company's oil and gas division from scratch.
In 1999, Almskog became chief executive officer of Kværner
, after Erik Tønseth
. Kværner paid a significant sign-on fee. However, Almskog came into conflict with one of the company's main shareholder
s, Kjell Inge Røkke
, as Røkke wanted to remove Almskog from the board of directors
, and Almskog left the company in 2001 when Røkke took over the ownership in Kværner.
Both Almskog's time as Kværner CEO, as well as the circumstances regarding his departure were amidst controversy. Shortly after taking his position at Kværner, Almskog announced that all the company's shipyard
s would be put up for sale. Former Kværner director Diderik Schnitler
blamed Aker Kværner's troubles with the Philadelphia shipyard on this decision. Martin Saarikangas, leader of Kværner Masa Yards, and the shipyard division, labelled Almskog a "wandering catastrophe". When Almskog left Kværner, the company was in economic crisis, but despite this Almskog received a golden parachute
worth . Almskog had also received a NOK 600,000 wage increase shortly before leaving.
He has since served on the board of the Orkla Group
, and is now the chairman of the board at Intex Resources.
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
businessman. He is the former chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of several companies, including the Norwegian division of the ABB Group and Kværner
Kværner
Kværner was a Norway-based engineering and construction services company in existence between 1853 and 2005 when it was merged with Aker ASA. The Kværner name was used in the subsidiary Aker Kværner until April 3, 2008 when it changed name to Aker Solutions. Kværner re-emerged on 6...
.
Personal life and education
He was born in OsloOslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...
as a son of company manager Reidar Juel Almskog (1910–1982) and Aslaug Magnhild Carlsen. He finished
Examen artium
Examen artium was the name of the academic certification conferred in Denmark and Norway, qualifying the student for admission to university studies. Examen artium was originally introduced as the entrance exam of the University of Copenhagen in 1630...
his secondary education in 1959, and received his MBA from the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
in 1964. He took the Advanced Management Program at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
from 1974 to 1975.
Career
He was the brand manager for Procter & GambleProcter & Gamble
Procter & Gamble is a Fortune 500 American multinational corporation headquartered in downtown Cincinnati, Ohio and manufactures a wide range of consumer goods....
in London from 1967 to 1971, before becoming the marketing director at Simrad from 1971 to 1976. He became a director in Elektrisk Union in 1976 and then chief executive officer of its daughter companies National Industri in 1979, then National Elektro in 1981. In 1986 he became chief executive officer of Elektrisk Bureau
Elektrisk Bureau
Elektrisk Bureau or EB was a Norwegian manufacturer of telecommunication equipment. It was founded in 1882 and lasted until 1993 when it became part of Asea Brown Boveri . The company was located at Billingstad in Asker.-History:...
, which soon merged with Elektro Union. In 1988 it also merged with ABB. Almskog remained the chief executive of ABB Norway until 1998, and in the autumn he was promoted to vice chief executive at ABB's main headquarters in Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. During his time at ABB, Almskog built up the company's oil and gas division from scratch.
In 1999, Almskog became chief executive officer of Kværner
Kværner
Kværner was a Norway-based engineering and construction services company in existence between 1853 and 2005 when it was merged with Aker ASA. The Kværner name was used in the subsidiary Aker Kværner until April 3, 2008 when it changed name to Aker Solutions. Kværner re-emerged on 6...
, after Erik Tønseth
Erik Tønseth
Erik Tønseth is a Norwegian jurist and industrialist.He was born in Drøbak and holds the cand.jur. degree. He headed the agricultural branch of Norsk Hydro from 1979. He was CEO of Kværner Industrier from 1989 to 1998.-References:...
. Kværner paid a significant sign-on fee. However, Almskog came into conflict with one of the company's main shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
s, Kjell Inge Røkke
Kjell Inge Røkke
Kjell Inge Røkke is a Norwegian businessman and among the richest people in Norway, controlling the Norwegian company Aker Solutions...
, as Røkke wanted to remove Almskog from the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, and Almskog left the company in 2001 when Røkke took over the ownership in Kværner.
Both Almskog's time as Kværner CEO, as well as the circumstances regarding his departure were amidst controversy. Shortly after taking his position at Kværner, Almskog announced that all the company's shipyard
Shipyard
Shipyards and dockyards are places which repair and build ships. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Dockyards are sometimes more associated with maintenance and basing activities than shipyards, which are sometimes associated more with initial...
s would be put up for sale. Former Kværner director Diderik Schnitler
Diderik Schnitler
Diderik Børsting Schnitler is a Norwegian businessperson.He hails from Stabekk, and in his younger days he was the treasurer and an active tennis player for Stabekk TK. He graduated from the Norwegian Institute of Technology with a Bachelor of Science degree in 1970. He was hired as an engineer in...
blamed Aker Kværner's troubles with the Philadelphia shipyard on this decision. Martin Saarikangas, leader of Kværner Masa Yards, and the shipyard division, labelled Almskog a "wandering catastrophe". When Almskog left Kværner, the company was in economic crisis, but despite this Almskog received a golden parachute
Golden parachute
A golden parachute is an agreement between a company and an employee specifying that the employee will receive certain significant benefits if employment is terminated. Sometimes, certain conditions, typically a change in company ownership, must be met, but often the cause of termination is...
worth . Almskog had also received a NOK 600,000 wage increase shortly before leaving.
He has since served on the board of the Orkla Group
Orkla Group
Orkla Group is a Norwegian industrial conglomerate operating in the Nordic region, Eastern Europe, Asia and the US. The company's main divisions are branded consumer goods, aluminium solutions, materials, associates and financial investments.-Operations:...
, and is now the chairman of the board at Intex Resources.