The controversial chief executive of Vattenfall is set to land a place on the board of Statoil.
Oystein Loseth announced last year leaving his post with the green energy giant in March 2015 for “personal reasons”.
But last night it emerged that he has been nominated for a seat around the top table at Statoil, the firm behind the Mariner project in the North Sea.
If he is accepted, he will leave Vattenfall this October – six months early – to join the oil firm.
Mr Loseth was at the centre of speculation that he had taken bribes for a deal in 2009, but an independent investigation cleared him of any wrongdoing.
It was alleged that he had taken “extra remuneration” when Vattenfall acquired Dutch company Nuon.
One of Sweden’s best-known lawyers – Christer Danielsson – was brought in to lead the probe.
But Mr Danielsson said there was no evidence of such a deal.
“From the investigations that I have carried out, the only conclusion that can be drawn is that the allegations in the media – that Mr Loseth received a ‘success fee’ or other similar extraordinary payment in connection with the Vattenfall-Nuon deal – are unfounded,” he said.
Mr Loseth also oversaw a troubled year for Vattenfall last year, when it announced plans to axe projects and 2,500 jobs.
The company has to make cuts of £450million over the next two years.
Thousands of jobs will go by the end of this year.
He said the company needed to prepare itself for falling electricity demand.
“This new reality requires efforts in further improving our efficiency,” he said.
He added that Vattenfall had to adapt through divestments, decreased investment plans, staff cuts and asset sales.
The firm also put its 75% stake in the EOWDC – an 11-turbine windfarm planned for Aberdeen Bay – on the market.
Last night, Statoil said Mr Loseth had “significant managerial experience in the energy sector”.
Statoil’s corporate assembly will vote on Mr Loseth next Tuesday.
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