LONDON, May 4 -- Aker Maritime AS Friday put forward "alternative" nominations for Kværner AS's new board of directors, following its claim that those recommended last week by its archrival would not be impartial judges of Aker's proposed merger plan.
The board proposed by Aker would be led by Pehr Gyllenhammar, currently head of UK insurance giant CGNU, as chairman, and include Ivar Tangen, Reidar Lund, Ole Melberg, Widar Salbuvik, and Helge Lund. Aker said its choice of directors would be "independent both of Kværner 's current board and of the company's largest shareholder, Aker."
Aker stressed that its recommended board represented "a broad range of expertise in industrial, offshore, and financial areas, both in Norway and internationally (and) would be able to freely assess which choice of future direction will serve Kværner best, and advise the company's shareholders and employees in this matter."
Aker said last week that the recommendations for directorships made Thursday by Kværner's election committee were out of line with Aker's call for a "competent and independent board" which would be unbiased in gauging the industrial logic of the proposed tie-up of the contractors' respective oil and gas operations.
Current Kværner Chairman Christian Bjelland said last week that his company's board nominations would "serve the interest of all shareholders."
He said, "The proposed board will support the group and give the company a mandate to continue the ongoing work to further develop shareholder value."
A decision on the Kværner's board of directors will be made Friday at the annual meeting. Aker is Kværner's largest shareholder with a 17.8% stake.
The two contracting rivals have been locked in a seesaw takeover battle since last July.
