Identity, Brand and Purpose: The Page Model in Action

In 2018, the Norwegian company Statoil changed its name to Equinor to reflect a shift in identity from an oil company to a broader energy company. Reidar Gjaerum and his CEO Eldar Saetre worked together to create a step-by-step change platform that was driven by purpose, inspired by vision, and guided by values. Most importantly, the Page Model was at the heart of their work, and they spoke about how they used it to begin the profound transformation of a 46-year old company that is two-thirds owned by the government and how they got approvals for this monumental change all the way up the line to the Prime Minister of Norway.


Speakers
  • Reidar Gjaerum, Chief Communications Officer, Equinor ASA
  • Eldar Saetre, President and CEO, Equinor ASA [via pre-recorded video]

Session Photos

Takeaway
Situation:

Equinor is a Norwegian energy company with 20,000 employees, operations in more than 30 countries, and a market cap of $75 billion. Its biggest shareholder is the Norwegian government.

The challenge for Equinor was to recraft its purpose and identity – which ultimately led to a change of name from Statoil – and to move the enterprise from a Norwegian-centric company to global.

“The world is facing a great dual challenge. To take forceful action to stop man-made climate change, and to secure clean, affordable energy for all.”

– Gjaerum

Equinor leadership team knew it needed get ahead of things and face these issues before a crisis forced them to change.

 

Process:

Business Pillars

The team started with the four key pillars of the business: new energy solutions, midstream and marketing, Norwegian continental shelf, and international oil & gas.

These pillars became overlaid with three objectives that underscored the future-facing goals:

    • Always safe
    • High value
    • Low carbon

Using tools from Page’s The New CCO thought leadership report, the team developed its purpose, vision, and values:

Purpose

“A complete strategy must do more than deciding what to do – how we do it is also important. We have always defined ourselves as a values-based company. But now we had a need for something that inspired the organization to drive the right progress.” – Gjaerum

Turning natural resources into energy for people and progress for society.

Vision

Shaping the future of energy.

Values

    • Open
    • Courageous
    • Collaborative
    • Caring

“We created shared belief around three dimensions: combating climate change, access to affordable and sustainable energy, and how the energy industry must contribute. Only by acknowledging that can we be accepted by a partner in solutions, not only as a source of the problems.” – Gjaerum

Identity

Through this work, the idea of changing the name started to grow, as its identification with “oil” seemed increasingly out of touch. But this was risky, especially with no external driver such as a merger or fundamental business shift driving it.

“I can tell you it took a lot of thinking before going to the CEO with a two-page memo and introducing the idea.” – Gjaerum

Key stakeholders

  • The CEO: “This was difficult in many aspects. It was a tough decision, and probably the most emotional decision I’ve ever made. The legacy of this company is so much associated with the name. Also, a new name creates expectations and obligations.” – Saetre
  • The Norwegian government: As the company’s biggest shareholder, the government needed to approve the change. Three cabinet ministers and the Prime Minister heard the company’s proposal and debated the merits of the decision.
  • Employees: It was extremely emotional to a number of long-term employees to let the old name go. That’s fine, that’s fair. We don’t expect you to cheer from day one.” – Gjaerum

Following the launch, the company created a special Yammer site for employees to vent frustrations, and created special events to help the community adapt to the new moniker.

 

Results:
  • Ten months after Gjaerum handed his CEO that memo, 99.2% of the board voted in favor of the name change.
  • Within the first quarter of launch, they achieved 80% awareness of the new name in Norway.
  • The company has strengthened its profile as an innovative, future-oriented and sustainable energy company.
  • Millennials are the most positive to the change.
  • Brand value has increased.

Gjaerum reflected on three takeaways for the Page audience:

  1. All communications must be anchored in and directed by business objectives.
  2. Communications is as much about influencing decisions as it is about communicating them.
  3. If you have an opportunity to try to do something big, trust your judgement.

 

In their own words:

“This journey of massive change has demonstrated the importance of communications as a tool for realizing a company’s strategy, to build understanding and support from stakeholders internally and externally.”

– Gjaerum

“Strategy has to be connected to the society around us.”

– Saetre


More Events

Existential Disruption:
Our Communications Challenges, Our World
2019 Page International Exchange
June 19-21, 2019 • Amsterdam

2019 Page International Exchange

The inaugural Page International Exchange focused on existential disruption and attendees heard from European leaders, CEOs and CCOs on how industry leaders in the region are managing a time of turbulent change in both business and communication. We’ll also discuss how the Page model driving change within organizations, in terms of the role of corporate brand, culture change, digital disruption, and corporate purpose.

Moment of Truth:
Authenticity, Agility & Action
2019 Page Spring Seminar
April 4-5, New York

2019 Page Spring Seminar

This year’s Spring Seminar comes at a moment of truth for the Chief Communications Officer. Following in-depth conversations with more than 100 CCOs from Google and General Motors to Mitsubishi Heavy Industries and Siemens, Page is preparing its latest research report, which will be previewed at the Spring Seminar.

Purpose, Policy & Protest:
The Role of the Corporation on Social Issues
2018 Page Annual Conference
September 23-25, Washington D.C.

2018 Page Annual Conference

The pressure on companies, and specifically their CEOs and CCOs, to engage with their publics on a range of social issues – from climate change to privacy, from immigration to gun control, from gay rights to racial bias – is more intense than ever. How do you determine if, when and how to engage?

Are You Future-Proofed?
Disruption, Innovation And The CCO
2018 Page Spring Seminar
April 5-6, 2018 Conrad New York

2018 Page Spring Seminar

“When we started to think about the theme for this Spring Seminar, we heard from many of you that we really needed to shake things up and use this time to learn things that might be new to our thinking. Companies have been transformed or disrupted. Many have turned to design thinking to infuse their thinking about the future.

Latest from Page

A Return to Fun 🛳️ How Carnival Cruise Line Leans into Levity as a Brand Asset

Carnival Cruise Line is different. Hear from their president, Christine Duffy, and CCO, Chris Chiames, about how the organization’s loyalty and good humor serve as a shield for the brand.

How does one become a CCO? Brian Lott's origin story

In this episode, we sat down with Brian Lott, Page Chair and CCO at Mubadala about how his unlikely start in midwestern U.S. politics uniquely prepared him to lead comms in the UAE.

Truth in the Disinformation Age