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Norske Skog: recommendations of the election- and remuneration committee


February 8, 2013 - London

Norske Skog's election- and remuneration committee recommends Ingelise Arntsen as a new member of the board of directors. Dag J. Opedal is recommended as new chair of the election- and remuneration committee, and Olav Veum is recommended as a new member of the election- and remuneration committee.  

- The proposals of the committee regarding the new board member and new members of the election- and remuneration committee are unanimous. Ingelise Arntsen has extensive experience from industry and the energy industry, both through operational management and a number of directorships, says chair of the committee, Tom Ruud.

Board of directors
The committee proposes the re-election of Eivind Reiten as chair of the board. The committee also proposes the re-election of the remaining directors Eilif Due, Finn Johnsson, Siri Beate Hatlen, Jon-Aksel Torgersen and Karen Kvalevåg. In line with last year, no deputy chair is proposed.  

Ingelise Arntsen (46) has extensive board and management experience from Norwegian and international activities in the industrial and energy sectors. She is currently CEO of Sway Turbine AS and a board member of Multi Consult AS, EAM Solar ASA and Grieg Seafood ASA. She has previous experience from companies including Kvaerner and Statkraft. She has a Bachelor of Science in Economics from the Copenhagen Business School.

In addition to the seven shareholder-elected board members, three board members will be elected by and among the employees of the company.

Election- and remuneration committee
Dag J. Opedal is proposed as new chair, replacing Tom Ruud. Olav Veum is proposed as a new member, replacing Ole H. Bakke. It is proposed that Helge Leiro Baastad and Kirsten Idebøen are re-elected as members of the election- and remuneration committee.

Dag J. Opedal is a graduated economist and has a Master of Business Administration (MBA) from INSEAD. He has previously held the position of CEO in Orkla ASA. He is Chairman of Vizrt Ltd. and Meltwater B.V. and a board member of Telenor ASA, Nammo AS and Norwegian Church Aid.

Olav Veum is a forest owner and has previously held positions including that of general manager in the Western Telemark Business Forum and business manager in Fyresdal municipality. He is currently chair of the Norwegian Forest Owners' Association, AT Skog SA and a board member of the Norwegian Agricultural Cooperative.

Overview
If the proposals of the election- and remuneration committee are adopted, the governing bodies in Norske Skog will have the following shareholder-elected composition following the annual general meeting:

Board of directorsElection committee
Eivind Reiten (chair)
Ingelise Arntsen
Eilif Due
Siri Beate Hatlen
Finn Johnsson
Karen Kvalevåg
Jon-Aksel Torgersen
Dag J. Opedal (chair)
Helge Leiro Baastad
Kirsten Idebøen
Olav Veum

Oxenøen, 8 February 2013

Norske Skog
Corporate communication

For further information:
Carsten Dybevig
Vice president corporate communication
Mobil: +47 917 63 117

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Norske Skog via Thomson Reuters ONE

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