Bjarte Bruheim steps down as EMGS' CEO

TRONDHEIM, Norway -- Bjarte Bruheim has stepped down from his role as the CEO of Electromagnetic Geoservices (EMGS) with immediate effect. He has held this position since Jan. 7.

EMGS has initiated a search for a new CEO, the company said in a statement.

Until a permanent CEO is in place, Stig Eide Sivertsen has been appointed interim CEO. As the CEO cannot be a member of the board of directors, according to the Norwegian Public Limited Liability Companies Act, Sivertsen has voluntarily resigned as a board member with immediate effect. Sivertsen has served on the board and chaired the company’s audit committee. He has previously, among others, worked for Schibsted, Petroleum-Geo Services and Telenor.

Eystein Eriksrud, the chairman of the board, said, "With the current low prices on oil, EMGS faces new challenges that require the company to take action. We are confident that Stig Eide Sivertsen is the right person to lead the company until a permanent solution is in place."

Stig Eide Sivertsen, CEO, said, "As the oil and gas industry is experiencing difficult times, it is even more important to provide the best solutions to our customers and to scale the operations to fit customer demands to maintain profitability. I look forward to take on the role as CEO to develop EMGS together with our highly qualified team."