Essar appoints Stein Ivar Bye as chief executive officer

Stein Ivar ByeThe board of Essar Oil UK Ltd has announced the appointment of Stein Ivar Bye, former boss of Sweden’s largest fuel firm, as chief executive officer.

Leaving behind his job as chief operating officer at Scandinavian crude oil giant Preem, Stein Ivar Bye will be based at Essar’s Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. He brings with him over 28 years’ experience in the Oil and Energy sector, working internationally across Europe, Africa, the Middle East and Asia.

Stein, who graduated from the Norwegian University of Science and Technology (NTNU) and has an MBA in Business Strategy and Management from BI Norwegian Business School, previously spent 25 years with ExxonMobil and was latterly chief operating officer at Preem.

An experienced executive leader in multicultural and international environments, Stein has an impressive track record in refinery operations, coupled with broad experience in supply and trading, strategy and planning and business development.

Mr Bye is the second new CEO to take charge at Essar since the start of the year. In January, it was announced that ex-BP boss Mark Wilson had replaced Srinivasalu Thangapandian. Essar said on Monday that Mr Wilson left in June under a “mutual agreement” with the firm after less than six months in the role.

Speaking about the latest appointment, Prashant Ruia, non-executive chairman, Essar Oil UK, said;
“As an organisation, our sights are firmly set on transforming our UK business, ensuring its growth and long term sustainability as we transition towards a low carbon energy economy and deliver the energy solutions of the future for Britain. Stein will be pivotal in meeting this challenge and fulfilling this ambition.”

Stein Ivar Bye added;
“I am honoured to be selected as CEO for Essar Oil UK and excited to be part of Essar’s transformational journey. Society’s demand for efficient and sustainable energy solutions is an inspiring challenge and will require creativity and perseverance. With the collective competency and commitment of the Essar organisation, and strong stakeholder engagement, I am confident Essar Oil UK will be a part of the solution for the future.”

 

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