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Otello Corporation ASA

Board/Management Information • Nov 28, 2023

3704_rns_2023-11-28_717d4ff8-72f3-4f06-941f-c232f349910d.html

Board/Management Information

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CFO Petter Lade resigns

Otello Corporation ASA ("The Company") today announces that Petter Lade is stepping down as CFO.

Petter Lade, who has been with the company since 2006 and been CFO since 2017, has given notice to take up a CFO position outside the company. He will continue in his current role until the end of December.

"Petter has been an outstanding CFO for Otello. His leadership and experience has been instrumental in helping us in many areas, including the completion of the IPO of Bemobi in Brazil and the turn-around and subsequent sale of AdColony for $400 million. During Petter's tenure as CFO, Otello has deleveraged the balance sheet, making us debt-free, and returned over 2 billion NOK to our shareholders through dividends and share buybacks. We wish him all the best in his new endeavors”, says Lars Boilesen, CEO of Otello.