Oystein Loseth has been appointed to Statoil’s board.
The move will see Loseth leave his post as chief executive of Vattenfall in October – six months ahead of schedule.
Loseth will join re-elected chair June Svein Rennemo and co-chair Grace Reksten Skaugen at the company helm.
Last year Loseth announced he would be leaving Vattenfall for “personal reasons”.
In 2009 he was at the centre of speculation that he had taken bribes for a deal in 2009.
However, an independent investigation cleared him of any wrongdoing.
He also steered Vattenfall through one of its most difficult times last year when it announced it would trim projects and cut 2,500 jobs.
Vattenfall aims to cut more than £450million from its budget over the next two years in a bid to get back on track.
Statoil cited Loseth’s “significant managerial experience” for the appointment.
Loseth, who holds zero shares in the company, will take up his new role on October 1.
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