Nordic Semiconductor

Board/Management Information • Jul 11, 2018

Strategy and Investor Relations Director Resignation

Strategy and Investor Relations Director Resignation

Strategy and Investor Relations Director, Thomas Embla Bonnerud, has decided to leave his position after 17 years to pursue opportunities outside of the company. He will continue in his current position until September 1, 2018.

Thomas Embla Bonnerud will be replaced by Ståle Ytterdal as Investor Relations Director. Ståle is currently Director Sales & Marketing Asia and Pacific (APAC) and has for the last 17 years been building up Nordic's sales organization in APAC. He has been stationed in Hong Kong for the past 14 years.

Ståle will take on this new position after his replacement

has transitioned into the role as Director of Sales & Marketing APAC. In the interim period CEO, Svenn-Tore

Larsen, and CFO, Pål Elstad, will take on the responsibility for Investor Relations.

"I am very pleased with the tremendous contribution from Thomas both in relation to his long-standing role in product management and strategy as well as his role in investor relations over the last 2 years working towards the financial market building confidence in Nordic's business. We wish him success in his new role as a CEO for an exciting technology company. His valuable experience in Nordic will be useful in building a strong technology industry in Norway," says Nordic's CEO, Svenn-Tore Larsen.

"Being a part of Nordic has been an adventure and I am grateful for the opportunities I have been given within the company. It is bittersweet to leave the company in these exciting times, but I am ready for new challenges ahead," says Thomas Embla Bonnerud.

"I am very pleased to announce that Ståle Ytterdal has decided to move back to Norway and take on the position as Investor Relations Director. Ståle brings over 17 years of experience from Nordic's key markets in Asia and has in-depth understanding of both Nordic's short range and long range product offerings. Ståle will be able to continue building a strong understanding of Nordic's market potential and communicate this to stakeholders through his experience from key markets for our products," says Nordic's CEO, Svenn-Tore Larsen.

Ståle Ytterdal holds a degree in Electronics engineering and Bachelor in Business. Ståle owns 233 000 Shares and 47 506 options in Nordic Semiconductor ASA.

In order to further strengthen the Investor Relations team, Kine Reigstad will be appointed Investor Relations Manager, supporting the team with communication to analysts and investors. Kine has worked in Nordic for a year and has experience from audit and financial advisory. She has a Master in Accounting and Auditing, and a M.Sc. in Economics and Business administration.

For further information contact:

Pål Elstad, CFO +47 99166293

Svenn-Tore Larsen, CEO +47 98285476