Stig Olav Settemsdal was born at Sunndalsora in Norway. After graduating as Master of Science
Electrical Engineering at the University of Trondheim (NTNU) in 1995, he has been employed at
Siemens Power Electronic Centre in Trondheim as engineer, project manager, and finally technical
manager of drilling systems in 2006. During this time he has been in charge of the development of
the BlueDrive Drilling Solutions in Siemens. In 2009 he was given the position as Product Lifecycle
Manager in Siemens Oil & Gas with solutions for drilling vessels as responsibility area. The first
development he initiated after this appointment was an advanced closed loop AC power solution
for DP vessels started in 2010 and finalized in 2013. He was appointed Global Head of Drilling
Solutions in September 2012. In 2014 he was appointed Global Head of Technology for Drilling &
Marine technology. In 2015 Stig was appointed CTO and Global Head of Portfolio Management &
Innovation for Offshore Solutions in Siemens Process Industries & Drives. In the solutions
business unit he is heading all development and standardization work for Power, Drives,
Automation and Digitalization for the offshore industry in Siemens. In this role Stig has initiated and
lead multiple joint development projects with X-vertical and X-BU participation successfully due to
in depth understanding on how the dynamics in such development environments is influencing the
result of the outcome.