Vend Marketplaces ASA

Board/Management Information • Jun 1, 2021

Schibsted ASA (SCHA/SCHB) - Schibsted sharpens growth focus

Schibsted ASA (SCHA/SCHB) - Schibsted sharpens growth focus

1.6.2021 14:30:00 CEST | Schibsted | Non-regulatory press releases

Schibsted rethinks its growth path with a new organizational model that links

marketplaces with distribution, sharpens focus on venture investments and

financial services, and paves the way for an even more ambitious company-wide

growth agenda.

Today, Schibsted announces that the ambition for growth will be further

supported, by splitting up the business area Schibsted Next into several

distinct focus areas, with closer ties to the Group Executive Management team.

The changes will be effective as of 01 July.

"The new organizational model is all about matching businesses that can make

each other better, while at the same time giving all our businesses the focus

and direction they need to grow. In addition, the organizational structure

allows for even more transformational growth in the future, and we will continue

to develop this growth agenda going forward," CEO Kristin Skogen Lund says.

* The Distribution and Ecommerce portfolio will be reporting to EVP Nordic

Marketplaces.

* This combination provides clear benefits to both business units. The

distribution network offers a unique advantage in the transformation into

next generation marketplaces, where we aim to take on the entire customer

journey including transactions and shipping. At the same time, our

marketplaces may expand our opportunities within ecommerce.

* Investments in Distribution and Ecommerce will continue to support the

unit's strong growth profile. While it will report to EVP Nordic

Marketplaces and work closer with Nordic Marketplaces organizationally, it

will still be reported as a separate P&L, allowing for the different

characteristics of the businesses.

* Distribution and Ecommerce will continue to be headed up by SVP Cathrine

Laksfoss, but now reporting to EVP Nordic Marketplaces Christian Printzell

Halvorsen.

* Christian Printzell Halvorsen steps down as CEO of FINN, to fully commit to

his expanded responsibilities as EVP Nordic Marketplaces.

* The expanded EVP role includes a principal responsibility for carrying

through the transformation into next generation marketplaces,

strengthening the strategic cooperation across the various marketplaces,

as well as taking on new responsibilities connected to Distribution and

Ecommerce.

* The process for recruiting a new CEO for FINN will be initiated.

* A new business area, Financial Services and Venture, will be headed up by EVP

Dan Ouchterlony, who will join the Group Executive Management team.

* The new business area will be based on the current Next portfolio

excluding Distribution and Ecommerce.

* This will deepen Schibsted's drive in Financial Services and continue the

commitment to venture investments, which are both important growth areas

for Schibsted.

* A new focus area will be created to shape and execute a holistic investment

strategy to drive transformational growth.

* Schibsted will work out a strategy for a more transformational growth

agenda.

* The aim is to identify opportunities for investments, growth and

transformation, potentially broadening Schibsted's portfolio of businesses

and brands.

* Schibsted creates a new Chief Investment Officer level position in the

Group Executive Management team to take responsibility for the growth

investments strategy and drive these opportunities.

* The recruitment process is initiated.

CONTACTS

* Atle Lessum, Head of Communications, Schibsted Group, +47 415 05 645,

atle.lessum@schibsted.com

* Malin Langtvet, Investor Relations Officer, +47 916 86 710, ir@schibsted.com

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/612/828/Download%20announcement%2

0as%20PDF.pdf