GN Store Nord — Board/Management Information 2013

Nov 22, 2013

Copenhagen, 2013-11-22 15:39 CET (GLOBE NEWSWIRE) -- Today, GN Store Nord has
appointed Niels Svenningsen as CEO of GN Netcom and member of GN Store Nord's
executive management team, effective as of January 1, 2014. Niels Svenningsen
replaces Mogens Elsberg, who has decided to resign from his position as CEO of
GN Netcom to pursue other career opportunities.

“I have greatly enjoyed the challenges at GN Netcom, and I am proud of the
results we have delivered. After I joined the company in 2009 we set out highly
ambitious targets for 2013 – to double the EBITA margin in just three years.
Today, being just a few weeks from delivering on the targets, I strongly
believe that the time is right for me to explore other career opportunities and
thereby hand over the CEO role to someone who has a proven track record of
delivering strong growth with companies like GN Netcom. I will be working
closely with Niels Svenningsen to facilitate a smooth leadership transition",
Mogens Elsberg says.

Niels Svenningsen comes from a position as Senior Vice President in Hitachi
Data Systems. Based in Zurich, he has been responsible for driving the growth
of Hitachi Data Systems business across Europe, Middle East and Africa. He has
extensive experience in the IT sector, including senior management positions in
HP, IBM, Compaq, Topnordic (now Atea) and earlier in his own IT company. Niels
has a bachelor’s degree in Economics from Copenhagen Business School.

“We are very pleased to welcome Niels to GN Store Nord as the CEO of GN Netcom
as we embark on our new strategic plan. We want to continue to grow rapidly,
and we have significant opportunities in front of us. I am very pleased that we
have been able to attract Niels to GN Netcom to lead our team as we focus on
our new targets. With his broad experience from global technology companies as
well as his extensive knowledge of the key markets in which GN Netcom operates
and competes, the board is convinced he will serve us well in the next step of
our journey to drive strong growth through innovation and commercialization”,
Per Wold-Olsen, Chairman of the GN Store Nord Board of Directors, says.

Resume

Born: December 26, 1964

Nationality: Danish

Family: Married, two children

Education: Bachelor in Economics from Copenhagen Business School

Career

2007 – SVP, Hitachi Data Systems A/S

2006 – 2007 CEO, Dansk Bredbånd A/S (now Waoo!)

2004 – 2006 Director, Topnordic A/S (now Atea)

2002 – 2004 Managing Director, Hewlett Packard DK

2000 – 2002 CEO, Websales A/S

1996 – 2000 Sales Director, Compaq Computer A/S

1987 – 1996 Held several sales - and marketing positions in IBM Denmark

For further information please contact:

Michael Bjergby
Senior Director – IR, Communications, CSR & Treasury
GN Store Nord A/S
Tel: +45 45 75 02 92