Norges Bank

Press release

Central Bank Governor retires at end of 1998

In a letter of 1 July to the Norwegian Minister of Finance, Mr Gudmund Restad, Central Bank Governor Kjell Storvik has requested that he be released from his duties as Governor and Chairman of the Executive Board, with effect from the end of 1998.

In his letter, Mr Storvik points out that he turns 68 in November this year. Although there is no age limit applying to the position of Central Bank Governor, Mr Storvik states that he finds it natural to abide by the upper age limit that applies to the Bank's staff.

Mr Storvik expressed his appreciation for the confidence shown in appointing him Central Bank Governor in February 1996, adding that his service to the Central Bank has taken place during an exciting period, and that the experience has been rich and fulfilling. "I have applied myself to my daily tasks at the Bank with keen enjoyment, and will miss the fine professional environment and excellent cooperation with colleagues and, not least, the good working relations with both the Ministry of Finance and the Banking, Insurance and Securities Commission", said Mr Storvik.


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Published 1 July 1998 00:00