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2019-03-21 09:00:00
The Nomination Committee of Nordic Semiconductor ASA today announces its proposal regarding the election of the Company’s Board of Directors and Chair of the Board at the Annual General Meeting. The Nomination Committee has proposed a Board of seven Shareholder Elected Directors; all of these are independent of the company’s executive management and main business partners. All proposed Directors are also independent of the Company’s main shareholders. The proposed composition of the Board reflects the Company’s global ambitions and opportunities as well as the variety of experience, expertise and qualifications required when entering a new growth phase, with launch and commercialization of LTE products in new markets. The Nomination Committee suggests that Mr. Birger Steen shall be re-elected as Chair of the Board. Mr. Steen has served as Chair since December 2018, when he was elected to replace Mr. Terje Rogne. Birger Steen is an experienced technology leader and board professional with background as CEO of Parallels Inc., Vice President Worldwide SMB and Distribution at Microsoft, General Manager of Microsoft Russia and Microsoft Norway, CEO of Scandinavia Online and Vice President of Business Development in Schibsted ASA. He has also worked at McKinsey & Company as a consultant and engagement manager and is currently a Board Member of Schibsted ASA and Nordea Bank AB. The Committee also proposes re-election of Ms. Inger Berg Ørstavik, who serves as associate professor at the Department of Private Law, University of Oslo. She has been a partner with the law firm Schjødt AS and a lawyer at the office of the Attorney General for Civil Affairs. Ms. Ørstavik has a Ph.D. from the University of Oslo in the areas of intellectual property law and competition law. Furthermore, the proposal includes the election of the following new Directors: • Mr. Jan Frykhammar, who is former interim CEO, CFO, Head of Professional Services and CFO North America in Ericsson AB. He has extensive knowledge of the telecom market and a broad experience in the accounting area in his former role as CFO. We believe he will represent a solid insight in the areas of finance and accounting for the Company. • Ms. Anita Huun, currently CFO in Gyldendal Publishing and a former CFO of Microsoft Norway with background as equity analyst with focus on IT companies. She has also been a Director at Link Mobility ASA. • Mr. Endre Holen, who has more than 25 years consultancy experience from McKinsey & Co. He has primarily worked with large international technology companies and has been Managing Partner for McKinsey's Global Tech Media and Telecom team. Mr. Holen also has a broad experience and a wide professional network from counseling Fortune 1000 CEOs on topics like strategy, corporate performance, succession planning, leadership and Board governance. • Mr. Øyvind Birkenes, currently the CEO at Airthings AS, and formerly General Manager for Low Power RF at Texas Instruments (TI) in the USA, where he headed the product lines that developed and sold ultra-low power wireless MCUs, radio transceivers and System on Chips. TI has been one of NODs largest competitors in the BLE space. Mr. Birkenes will bring extensive experience in technological leadership and an in-depth knowledge of the RF low energy market. • Ms. Annastiina Hinsta is the COO of Hinsta Performance in Finland, a company focusing on enhancing the performance and leadership of client companies, best known for working with Formula 1 teams. Ms. Hinsta also has experience from McKinsey & Co. and from the Bank of Finland. She has broad expertise and will enable the Board to see the Finnish angle, taking into consideration given that a large number of the employees are located in Finland. The Committee has held several meetings, conference calls and interviews as part of the nomination process. The Committee has ensured that all shareholders and others have had the opportunity to nominate Directors or to discuss candidates with the Nomination Committee. Moreover, the Committee has emphasized that the composition of the Board meets the Company’s need for expertise, capacity and variety in an exciting growth phase. The full recommendation from the Nomination Committee is attached. For further information, please contact: John Harald Henriksen, Chairman of the Nomination Committee All enquiries should be directed through Nordic’s IR team; Pål Elstad, CFO Nordic Semiconductor ASA Phone: +47 991 66 293 About Nordic Semiconductor Nordic Semiconductor has been a pioneer in the field of ultra-low power wireless solutions since 2002 and was one of the founding members of the Nokia initiative which created the Bluetooth Low Energy standard. Today, Nordic Semiconductor is by far the market leader within the ultra-low power wireless segment. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway. For more information go to www.nordicsemi.com This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)