Business transformation

Ragnhild Ulvik

Ragnhild is an experienced senior leader with a strong background from transformation, governance and business performance in large international companies. She has led group-wide improvement programmes, major reorganisations and the development of governance and performance management models across business areas and corporate functions. Her experience covers the full transformation lifecycle, from analysis and target-state design to implementation, line adoption and benefits realisation. She has worked closely with executive management teams and boards, both in permanent leadership roles and interim roles, combining strategic direction with operational responsibility for delivery. Ragnhild has substantial experience in designing and developing finance and corporate operating models. Ragnhild has led strategic transformation programmes where governance, financial management, data, systems and organisational design are aligned to improve executive decision-making and deliver measurable business impact.

Selected experience

Partner, ADVALO. 2026 - present
• Advises executive teams and boards on transformation, governance and performance improvement
• Supports companies with operating model design, finance transformation, implementation and benefits realisation

Programme director, Organisational development, Statkraft, 2025–2026
• Held overall responsibility for a group-wide improvement programme supporting Statkraft’s strategic direction towards 2030
• Led the strategic improvement agenda across business areas and corporate functions
• Worked closely with the Executive Management team to secure direction, progress and lasting effect

Senior vice president, Sustainability, governance and compliance, Interim, Statkraft, 2025
• Held interim responsibility for five corporate functions in a transition phase
• Led sustainability, ESG, governance, compliance, information security and privacy
• Secured continuity, clear priorities and effective collaboration in a complex transition phase

Senior vice president, New Business Areas, Statkraft, 2022–2025
• Responsible for developing new business areas in line with Statkraft’s long-term strategy
• Identified and matured new opportunities through organic development, partnerships and M&A
• Held overall responsibility for the group’s R&D and innovation activities

Vice president, Business analysis, Statkraft, 2020–2022
• Led a corporate unit delivering strategic and financial decision support to the executive management team
• Responsible for the PMO for a group-wide reorganisation
• Contributed to development and implementation of frameworks for capital allocation and planning

Vice president, Innovation, Equinor, 2017–2020
• Led an innovation portfolio with estimated revenue potential of USD 350–500 million
• Established the Energy Accelerator in collaboration with Techstars
• Developed and implemented a governance model for innovation and value creation.

Head of estimation, Equinor, 2013–2017
• Led a global professional organisation of approximately 70 employees
• Responsible for cost and resource estimation in large investment projects
• Achieved cost reductions of up to 50% through concept optimisation

Leadership and analyst roles in strategy, technology and business development, Equinor and Norsk Hydro, 2006–2014
• Held several roles within international business development, M&A, strategy and commercial negotiations
• Worked in Oslo and London, with longer assignments in Brazil, the United States and Abu Dhabi

Education

  • MSc in Business Analysis and Performance Management, Norwegian School of Economics, 2001–2006
  • MBA in International Management, ESADE, 2005
  • INSEAD Executive Programme, 2020
  • Board Programme, NHH Executive, 2020
  • Climate Leadership Programme, Skift, 2023
  • Leadership programmes in Equinor and Statkraft
+4791512676
ragnhild.ulvik@advalo.no
We chose ADVALO because we knew they deliver

Contact NAME

Ragnhild is a senior transformation leader with close to 20 years of experience from large, complex and capital-intensive companies. She brings strong expertise in group-wide transformation, governance, financial management and performance management. She combines extensive finance experience with a deep understanding of business operations, organisation and technology. At ADVALO, Ragnhild advises executive teams and boards on transformation, operating model design, performance improvement and benefits realisation. Her experience includes senior leadership roles at Statkraft, Equinor and Norsk Hydro, including Senior Vice President and Vice President roles. She holds an MSc in Business Analysis and Performance Management from the Norwegian School of Economics, an MBA in International Management from ESADE and has completed executive programmes at INSEAD and NHH Executive.
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Ragnhild Ulvik

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Jahn Asle Mørch Hesla
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