Helge Lund resigned as president and CEO of Statoil to become the CEO of BG Group in March 2015. After joining Statoil in 2004, Lund led the company through a period of significant growth, including an increase in its market capitalization from NOK 189 billion to more than NOK 500 billion. He oversaw Statoil’s merger with Norsk Hydro’s oil and gas division. Lund will succeed Chris Finlayson at BG Group. Eldar Sætre, a member of Statoil’s corporate executive committee, was named as the company’s acting president and CEO until a permanent replacement is found.