AI assistant
Orkla ASA — Board/Management Information 2019
Mar 18, 2019
3703_iss_2019-03-18_9984a08e-7308-4ebe-85b7-c1891c4edc14.html
Board/Management Information
Open in viewerOpens in your device viewer
Orkla ASA: Peter A. Ruzicka resigns as President and CEO of Orkla
Orkla ASA: Peter A. Ruzicka resigns as President and CEO of Orkla
Peter A. Ruzicka (54) has informed the Board of Directors of Orkla ASA that he
wishes to step down as President and CEO. He will remain in the position until
Orkla has presented its results for the first quarter of 2019 on 7 May 2019.
"After five years as President and CEO of Orkla, I have concluded that the time
has come to hand over the baton. These have been five eventful years in which
Orkla has achieved good progress in many areas. The Group is well positioned for
the future," says Peter A. Ruzicka.
Mr Ruzicka took up the position of President and CEO on 10 February 2014. He was
a member of Orkla's Board of Directors from 2008 to 2014 and from 2003 to 2005.
He was a member of the Corporate Assembly in 2006-2007.
"On behalf of the Board of Directors, I want to thank Peter for his outstanding
efforts and good collaboration. Peter has done an excellent job of leading Orkla
in the transition from an industrial conglomerate to a more focused branded
consumer goods company. I am deeply grateful for the contribution that he has
made as head of Orkla," says Board Chairman Stein Erik Hagen.
Mr Ruzicka will represent Orkla on the Board of Directors of Jotun A/S after his
resignation.
The process of finding Mr Ruzicka's successor as President and CEO will begin
immediately. Terje Andersen (61) will be appointed as Acting President and CEO
from 7 May until a new President and CEO is in place. Mr Andersen joined Orkla
in 1989 and has held the position of CEO of Orkla Investments since 2014. From
2003 to 2014, he was CFO of Orkla and sat on the Group Executive Board from
2005 to 2018. He is a member of the Board of Directors of Jotun AS and
Borregaard ASA, and other companies.
About Orkla
Orkla is a leading supplier of branded consumer goods and concept solutions to
the consumer, out-of-home and bakery markets in the Nordics, Baltics and
selected markets in Central Europe and India. Orkla is listed on the Oslo Stock
Exchange and its headquarters is in Oslo. In 2018, the Group had a turnover of
NOK 41 billion, and approximately 18,500 employees as of 31 December 2018.
Oslo, 18 March 2019
Ref.
Group Director Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828
E-mail: [email protected]
SVP Investor Relations
Thomas Ljungqvist
Tel.: +47 482 59 618
E-mail: [email protected]
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.