HOUSTON--(BUSINESS WIRE)--Arundo Analytics, a software company enabling advanced analytics in heavy industry, today announced the addition of three members to its Board of Directors: Stuart Morstead, current COO and Co-founder of Arundo Analytics; Tore Myrholt, Senior External Advisor of McKinsey & Co.; and Thomas Malone, the Patrick J. McGovern Professor of Management at the MIT Sloan School of Management and the founding director of the MIT Center for Collective Intelligence.
“Our new board members bring world-class, international expertise from global management consulting leadership, software entrepreneurship and academia. Their involvement with Arundo showcases how we are well-positioned for a massive global opportunity,” said Tor Jakob Ramsøy, CEO and founder of Arundo Analytics. “With outstanding credentials and excellent track records, these new board members bring significant understanding of Arundo’s customer needs, the cutting-edge implications of machine learning and the Industrial Internet of Things, and what it takes to build a successful software company.”
Current Board Members Jan Van der Eijk and Harald Norvik will rotate to a new Advisory Board and continue to be involved with Arundo. Tor Jakob Ramsøy and Lars Thoresen will continue serving on the Board of Directors.
Arundo enables enterprise-scale machine learning and advanced analytical applications for heavy industrial companies. Its proprietary software for asset-intensive industries like oil & gas, maritime, power and chemicals provides edge-state streaming and local analytics, rapid cloud deployment of applications and company-wide management of numerous applications, helping customers transform their businesses.
New Board Members
Stuart Morstead is currently COO and Co-founder of Arundo Analytics. He was previously a Partner at McKinsey & Co., where he helped drive technology strategy for energy and industrial companies across the Americas, and led McKinsey’s Business Technology Office in the Southern U.S., Mexico and Central America. Before these roles, he co-founded two technology services companies, was an adjunct professor at Rice University and authored two books on managing enterprise technology operations. He holds a BA in Economics from Rice University and an MBA from INSEAD. Previously serving as a Board Observer, Morstead now adds formal governance duties to his position at Arundo. He is based in Houston, Texas.
“I am honored to join our new external directors on the board as we position the company for the next step on our journey,” said Stuart Morstead. “I am also grateful for the counsel from Harald Norvik and Jan van der Eijk and look forward to continue working with them as they transition on to our advisory board.”
Tore Myrholt was one of McKinsey’s longest-serving Senior Partners before transitioning to a Senior External Advisor role. He was a Senior Partner for 25 years, including time as leader of the Scandinavian Office; leader of the Europe, Middle East, and Africa region; leader of the Doha Office; and Chairman of the Directors Committee. During his time at McKinsey, he focused on clients in the global energy and materials sector and the public sector, with particular experience in corporate transformations. He holds an MBA from Harvard Business School and is based in Doha, Qatar.
Thomas Malone is the Patrick J. McGovern Professor at MIT Sloan School of Management and founding director of the MIT Center for Collective Intelligence. He is also a Professor of Information Technology and a Professor of Work and Organizational Studies at MIT. Previously, he was the founder and director of the MIT Center for Coordination Science and one of the two founding co-directors of the MIT Initiative on “Inventing the Organizations of the 21st Century.” He teaches classes on organizational design, information technology and leadership, and his research focuses on how new organizations can be designed to take advantage of the possibilities provided by information technology. With a Ph.D. from Stanford University, Malone has been a co-founder of four software companies and served on boards for several organizations. For Arundo, he will contribute from Cambridge, Massachusetts.
New Advisory Board Members
Jan Van der Eijk, PhD is the former Group Chief Technology Officer of Royal Dutch Shell, where he spent 30 years in research, technology, and business management positions in the U.S., Netherlands, and UK. He was an original Arundo Board Member.
Harald Norvik is the former CEO of Equinor (formerly known as Statoil), the Norwegian national energy company, and the former Chairman of Telenor. He is a current Board Member of ConocoPhillips and was an original Arundo Board Member.
“I have been involved with Arundo since its earliest days, and I’ve seen its astounding growth over the last few years,” said Tore Myrholt. “I’m excited to become more actively involved and support the company’s strategies in energy and other heavy industries.”
“Technology is fundamentally changing how industry operates, and Arundo is at the forefront of this change in some of the biggest industries in the world,” said Thomas Malone. “As an entrepreneur and researcher in this area, I’m excited to help Arundo navigate and respond to dynamics of this once-in-a-generation opportunity.”
About Arundo Analytics
With offices in Oslo, Houston and Silicon Valley, Arundo Analytics provides cloud-based and edge-enabled software for the deployment and management of enterprise-scale industrial data science solutions. Arundo's software allows industrial companies and other organizations to increase revenue, reduce costs and mitigate risks through machine learning and other analytical solutions that connect industrial data to advanced models and connect model insights to business decisions. In 2016, Arundo graduated from Stanford University’s StartX accelerator program, and subsequently received investment from the Stanford-StartX Fund. In 2017, Arundo was named to the MIT STEX25 by the Massachusetts Institute of Technology Startup Exchange (MIT STEX). MIT STEX25 recognizes select companies from a pool of more than 1,000 MIT-connected startups as being particularly well-suited for industry collaboration based on technical and commercial success.