Otello CEO, Lars Boilesen has in an agreement with the Board of Directors
decided to transition into an advisor role in Otello effective 31. December
2023. 
 
Lars has served Opera and Otello for over 20 years, first as head of sales,
later as a Board member and ultimately as CEO from 2010. During his tenure he
has taken the company from an obscure browser company into a global powerhouse
with 400 million users and billion dollar valuation both through aggressive
organic growth as well opportunistic acquisitions. This growth and pivot
ultimately led to the sale of Opera for $600m, AdColony for $400m, OperaTV for
$120m, SurfEasy for $40m and the listing of Bemobi with a market cap of over
$400m.  
 
"Lars has been an invaluable asset for Opera, and Otello and has during his
reign created vast shareholder values. I support Lars in his decision and
acknowledge that the timing of him move into an advisor role makes sense. In his
new role, Lars will continue to support Otello's ownership in Bemobi, where he
will remain the chairman as we continue to maximize the value of our asset on
behalf of our shareholders," says Chairman of the board, Andrè Christensen. 
 
As a result of multiple divestures in addition to the IPO of Bemobi, Otello is
now a very different company with a single asset on hand, its 38% holding in
Bemobi. This new setup caters for a different stewardship from its management. 
 
Jason Hoida, OtelloŽs General Counsel, will take over as CEO upon LarsŽ
transition. Jason has been an integral part of OtelloŽs leadership since 2009
and has worked closely with Lars on all aspects of the business including all
major transactions. 
 
"We are very fortunate to have someone of Jason's caliber on our roster and able
to take over the baton. Jason and Lars have worked together for over a decade,
and I am confident that they also in their new respective roles will continue to
drive shareholder value." Says Christensen.
 
"My journey with Opera and Otello has truly been amazing and I have been
fortunate to take part in a growth story unique to Norway. The success we have
achieved against all odds is a result of dedicated employees, in combination
with the unrelenting support from our Board of Directors and key shareholders.
As we move to the next phase it gives me great pleasure to hand the CEO role
over to my friend and colleague Jason Hoida, which has been instrumental in the
success we have achieved as a company. I will also do my outmost to support him
from my new role as advisor," says Lars Boilesen, CEO.
 
Lars Boilesen | Chief Executive Officer
Otello Corporation ASA
larsb@otellocorp.com 
Mobile +47 4040 1460