No explanation was given for the resignation of chairman Jens Ulltveit-Moe, who is a well-known Norwegian investor and chief executive of the investment group Umoe.
Mimi Berdal, a member of the board since 2011, will immediately take his place atop the board of directors.
REC’s full-year net loss is substantially deeper than the NKr4.3bn deficit it reported for 2011.
Total annual revenues fell 25% to NKr7.14bn
