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Kreutzer named Storebrand chief

Storebrand, the Norwegian financial services concern, has hired its acting chief executive, Idar Kreutzer, to lead the company on a permanent basis. Mr. Kreutzer, 38, has worked at Storebrand since 1992, the last five years as director of economy and finance. He takes the reins after a turbulent autumn during which the previous chief executive, Åge Korsvold, resigned over an alleged conflict of interest involving his private finances. Mr. Kreutzer’s annual salary will be USD 330,000 (NOK 2.9 million), with additional incentives tied to Storebrand’s stock performance.