Carbon Transition Names Interim CEO

December 6, 2021

Carbon Transition has appointed Nils Haugestad as interim CEO
Carbon Transition has appointed Nils Haugestad as interim CEO

Oslo-listed company Carbon Transition has appointed Nils Haugestad as interim CEO as of December 6, 2021. Haugestad will also remain in his position as CFO of the company.

Haugestad has been with the company since April 2020, having joined from SeaBird Exploration where he'd served as the CFO for eight years.

Bjørn Gisle Grønlie, Chairman of Carbon Transition ASA, will assume the position of Executive Chairman and assist the company in this interim period.

Carbon Transition's previous CEO Ronny Bøhn in November decided to resign. Bøhn had served as CEO of the company since August 2020.

He has more than 20 years of experience in the seismic industry and had held management positions as vice president of marine operations at CGG and as COO at April AS.

As previously reported, the company earlier this year changed its name from AxxisGeo Solutions to Carbon Transition to reflect the strategy to change from being a pure-play offshore seismic survey and data firm to becoming an investment firm with a focus on energy transition, and calling its now subsidiary AxxisGeo Solutions "a legacy seismic business." Carbon Transition said at the time its seismic business would continue going forward but "will be subject to requirements for satisfactory rates of return."

Last Friday, Carbon Transition said it had entered into a new multi-client seismic data licensing contract with an undisclosed customer.

"Under the contract, the customer will license certain data from Carbon Transition’s Utsira multi-client library in Norway for a net amount of approximately USD 2.2 million," Carbon Transition said.


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