Board/Management Information • Feb 7, 2024
Board/Management Information
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Schibsted ASA (SCHA/SCHB) - Schibsted announces leadership transition
7.2.2024 07:04:57 CET | Schibsted | Additional regulated information required to
be disclosed under the laws of a member state
Today, Schibsted announces that CEO Kristin Skogen Lund has decided to step down
from her position once a successor is found, and that a search for a new CEO
will be initiated.
Recent milestones under Skogen Lund's leadership are the Adevinta takeover offer
and the non-binding agreement to sell Schibsted's news media operations to the
Tinius Trust. These strategic transactions are aimed at optimising value for
Schibsted and its shareholders, and the sale of the news media operations also
implies a significant restructuring of Schibsted into two distinct companies.
"Schibsted is a great company and I am incredibly proud of what we have
accomplished together. I am impressed every day by all the talent and dedication
shown by my colleagues. As Schibsted now stands at a juncture, I find it the
right time for me to step down. I want to give the Board the time and
opportunity to identify the new leadership to carry forward our mission, making
sure it can be operational as soon as the transaction closes. I am committed to
ensuring a smooth transition and will continue to support the company in any way
I can," says Kristin Skogen Lund, CEO.
The Board of Directors expresses its deep gratitude to Skogen Lund for her
commitment, foresight and transformative leadership.
"Kristin's leadership has been instrumental in shaping the Schibsted of today.
The value delivered through the eBay acquisition and Adevinta offer stand out,
as do the way Schibsted has solidified its position throughout the Nordics, the
way both our marketplaces and media businesses have transformed, and how the
company has carried its legacy as a data and technology pioneer. Also, I want to
highlight her stewardship through challenging times like the COVID-19 pandemic
and the recent macroeconomic turbulence, as well as her ability to build a
strong and visionary leadership team. While her tenure has been transformative
for the company, we respect her decision to step down now that the company
enters a new phase," says Karl-Christian Agerup, Chair of the Board.
The Board will immediately initiate a process to identify Skogen Lund's
successor. This process will be conducted with the goal of identifying a leader
who can build on Schibsted's strong foundation and guide the company in its new
phase. Subject to final agreements and shareholder approval, Schibsted's current
news media businesses and related services will be carved out from Schibsted
into a separate company to be owned by the Tinius Trust and headed up by Siv
Juvik Tveitnes. After the transaction is completed, Schibsted's remaining
businesses will continue as a publicly listed company on Oslo Børs, consisting
of the current business areas Nordic Marketplaces, which includes Delivery, and
Growth & Investments.
Skogen Lund will remain in her role until a new CEO is appointed to ensure a
seamless transition and continuity in leadership.
Please refer to https://schibsted.com/norske-nyhetssaker/ and
https://schibsted.com/svenska-nyheter/ for local language versions of this
release.
For additional information, please contact:
Investors
Jann-Boje Meinecke
VP, Head of Investor Relations
+47 941 00 835
Media
Daniel Frykholm
VP, Head of Group Communication
+46 70 206 77 86
Øyvind Vormeland Salte
Communication Director, Norway
+47 992 39 021
Schibsted Board
Karl-Christian Agerup
Chairman of the Board
+47 922 18 767
Oslo, 7 February 2024
SCHIBSTED ASA
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/2897/4040/Download%20announcement
%20as%20PDF.pdf
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