Arntsen left the Norwegian company to become chief of staff at oil, gas and renewable energy company, Aibel. She is working at Sway Turbine as an adviser until 30 November.
Eystein Borgen, the company’s chief technology officer, will become the new CEO, while remaining CTO.
Arntsen said: "I am assisting Sway Turbine in its continued effort to identify an industrial partner for its 10MW offshore turbine technology, in an advisory role."
Sway, headed by Eystein Borgen, was formed in 2000 and started working on the 10MW turbine in 2005. In the summer of 2010 Sway Turbine was formed after demerging from Sway, which is developing floating platforms. Borgen became CEO and CTO of the new turbine company. Arntsen took over as CEO in autumn 2010.
Borgen said: "I have more time to work as the CEO compared with 2010. No one in the near future will take over as CTO — I will have both functions."
Last year Sway Turbine unveiled the design of its ST 10MW machine, which features a 25-metre direct-drive, permanent magnet generator.
The ST10 includes a 164-metre rotor with three rotor blade supports, eliminating the need for a conventional rotor hub.
Development of the ST10 began with the aim of finding a cost-effective, low-weight solution for floating turbines and overcoming key challenges associated with turbine upscaling.