Jarle Roth nominated as new chair of the board of directors in Norske Skog

GlobeNewswire

The members of the election- and remuneration committee of Norse Skog unanimously recommend that Jarle Roth takes over as new chair of the board of Norske Skog. Eivind Reiten has informed the committee that he will not seek re-election. Reiten has been chair since 2009.

- Jarle Roth has extensive leadership and board experience from Norwegian and international industrial and financial companies. Through his position as CEO of Eksportkreditt, and former positions as deputy CEO in the Umoe group and CEO of Unitor, Roth has played a central role in strategy development, portfolio management and operational improvement processes. Jarle satisfies the election- and remuneration committee`s requirements for a new chairman who will continue and strengthen the positive development of Norske Skog, said the committee`s chair Dag J. Opedal.

Jarle Roth (53) holds a Master of Science in Business Administration from the Norwegian School of Economics and Business Administration in Bergen. He is currently a board member of Multiconsult AS and Enova SF. Roth has previously been a board member of companies including Kvernland ASA, Awilco Offshore ASA Grieg Shipping Group AS and Aibel AS.

- Norske Skog is an exciting company in a demanding industry. I see that much good work has been performed in the company in recent years and that the industrial and financial foundation is improved. I appreciate this opportunity to take an active part in the further strategic development of the company, if the general meeting follows the election- and remuneration committee`s recommendation, says Jarle Roth.

- We are sorry that Eivind Reiten has decided not to embark on a new period, but respect his choice. We wish to thank Eivind Reiten for leading the company through extensive restructuring, said the leader of the election- and remuneration committee, Dag J. Opedal.

- Norske Skog has carried out extensive restructuring measures and significant cost reductions in recent years. The company`s financial position has improved through substantial debt reduction, and Norske Skog is well equipped for the future. My decision not to stand for re-election is entirely justified by the need to spend more time on my other commitments, says the resigning chair of the board, Eivind Reiten.

Board of directors
The election- and remuneration committee in Norske Skog recommend, in addition to Jarle Roth as chair of the board, Karin Bing Orgland as a new member of the board.  

Karin Bing Orgland (54) is chair of the board and senior partner in Berghammeren AS. She holds a Master of Science in Business Administration from the Norwegian School of Economics and Business Administration (NHH) in Bergen. She has extensive management experience from the DNB Group, where she has been part of the corporate management and held positions including executive vice president with responsibility for retail and corporate customers in Norway. She is currently the chair of the board of GIEK and a board member of Grieg Seafood ASA.

The committee recommends to the annual general meeting that the number of shareholder-elected directors is reduced from seven to five, as part of the ongoing rationalisation of the group. It is not proposed to appoint a deputy chair to the board. In addition to the five shareholder-elected board members, three board members are elected by and from among the employees. Board members in Norske Skog are elected for one year terms.

Election- and remuneration committee
It is proposed that Dag J. Opedal is re-elected as chair of the election- and remuneration committee. Marianne E. Johnsen is proposed as a new member of the committee, succeeding Kirsten Idebøen. It is proposed that Helge Leiro Baastad and Olav Veum are re-elected as members of the election- and remuneration committee.

Marianne E. Johnsen is the founder, CEO and partner in X-lence Group AS. She has a law degree from the University of Oslo and an MBA from the Solvay Business School in Brussels, Belgium. Johnsen has management experience from Elkem ASA. She is currently a board member of Norway Royal Salmon ASA, Morpol ASA, Rocksource ASA and Sparebank 1 Gruppen Finans AS. Johnsen is the leader of election- and remuneration committees in a number of major Norwegian companies.

Annual general meeting
The annual general meeting of Norske Skog will be held on 10 April. The general meeting elects the members of the board and nominates the chair. The election- and remuneration committee currently consists of Dag J. Opedal (chair), Kirsten Idebøen, Helge Leiro Baastad and Olav Veum, as well as Cecilie Jonassen who is an observer from the employees with the right to attend and speak at meetings.

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 directors Election- and remuneration committee

Jarle Roth (chair)
Eilif Due
Siri Beate Hatlen
Karin Bing Orgland
Jon-Aksel Torgersen

Dag J. Opedal (chair)
Helge Leiro Baastad
Marianne E. Johnsen
Olav Veum

Oslo, 10 March 2014

Norske Skog
Communications and Public Affairs

For further information:
Norske Skog media:
Vice President corporate communication
Carsten Dybevig
Mob: 917 63 117

For picture of Jarle Roth, see twitter: @Norske_Skog

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


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Source: Norske Skog via GlobeNewswire

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