Hilde Merete Aasheim

It was a bumpy 2020 for the entire commodities world, as demand for raw materials slumped under waves of lockdowns. In 2020, Norsk Hydro wasn’t immune, with revenue dropping 7.8% for the year. But 2021 has brought demand back with a vengeance—aluminum prices hit their highest price in a decade on the London market in summer 2021. Meanwhile, Aasheim has continued to push the company away from the commodities roller coaster, launching a five-year strategy in 2020 to refocus one of the world’s largest aluminum producers, including shifts towards lower-carbon production and batteries, and selling off its rolling unit in March for $1.6 billion. But there has been controversy too: In February, a Brazilian group brought a lawsuit in a Dutch court against the company, alleging toxic waste had been incorrectly disposed of in a river in northern Brazil. (The company says an investigation found no evidence of contamination.)

Subscribe to The Broadsheet, our newsletter on the world’s most powerful women.