Appointment of new Executive Vice President at Orkla

Karl Otto Tveter (47) has been appointed Executive Vice President, Legal Affairs and member of the Orkla Executive Board, effective today. Mr Tveter has been employed by the Orkla Group since 1992, and has been Senior Vice President, Legal Affairs, of Orkla ASA since 2000. In his new position, besides being in charge of the Legal Affairs Department, Mr Tveter will also be responsible for the Group Secretariat and will act as secretary to the Board of Directors. In addition, Orkla's Internal Audit Department will report administratively to Mr Tveter.

"Orkla is undergoing a very extensive, demanding transformation phase entailing significant structural changes. Karl Otto Tveter brings to the Orkla Executive Board considerable expertise and experience in dealing with legal and transaction-related issues, which will be important to Orkla both during the transformation phase and in its future operations as purely a branded consumer goods company," says Bjørn M. Wiggen, Group President and CEO of Orkla ASA.

 

"I am glad to have this opportunity to work even more closely with Bjørn to realise Orkla's strategic objectives, and look forward to contributing to the Orkla Group's value creation in the years ahead," affirms Karl Otto Tveter.

 

Orkla ASA,

Oslo, 9 February 2012

Reference:

Johan Chr. Hovland, SVP Corporate Communications, + 47 22 54 44 86

Rune Helland, SVP Orkla Investor Relations,  +47 22 54 44 11

 

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