The Board of Directors of Orkla ASA has today decided to extend Åge Korsvold's contract as President and CEO.
"Orkla is in a phase of transformation. Our branded consumer goods business is to be further developed, and non-core businesses are to be divested. Åge Korsvold has the leadership experience and financial expertise that Orkla requires to carry out this process," says Stein Erik Hagen, Orkla's Chairman of the Board.
Åge Korsvold has many years of experience in top executive and Board positions in Norwegian and international business and industry. He was CEO of Storebrand from 1994 to 2000 and CEO of Kistefos from 2001 to 2010. He was elected Deputy Chair of Orkla's Board of Directors in May last year.
Orkla ASA
Oslo, 6 September 2012
Ref.: Håkon Mageli, Executive Vice President, Corporate Communications and Corporate Affairs, +47 928 45 828.
This information is subject to disclosure under section 5-12 of the Securities Trading Act.