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Lund graduated in business management at the Norwegian School of Economics in Bergen. He also has a Master of Business Administration (MBA) from the INSEAD business school in France. He started his career as a consultant for McKinsey & Company and as political adviser for the Conservative Party in the Norwegian parliament Stortinget before starting work for Hafslund Nycomed in 1993. In 1997-8 he was Vice President in Nycomed Pharma before starting work in Aker RGI in 1999 as Vice President before becoming CEO for Aker Kværner in 2002. After Olav Fjell withdrew as CEO of Statoil in 2004, Lund took over his position and retained after Statoil merged with the oil & gas division of Norsk Hydro in 2007 to create StatoilHydro.