Norske Skog informed that the board of directors had unanimously appointed Lars P. S. Sperre as interim President and CEO of Norske Skogindustrier ASA with immediate effect.
Lars Sperre has been employed by Norske Skogindustrier ASA since 2006 and been member of the corporate management team since 2014. Prior to this appointment, Sperre acted as Senior Vice President Corporate Strategy & Legal.
Henrik A. Christensen, chairman of the board, commented:
“An unanimous board supports the appointment. Lars is the natural candidate to the role as interim President and CEO. He knows the industry well and has been highly involved in the group’s restructuring and financing processes during recent years, in addition to being instrumental in the development of the current strategy, says chairman of the board.
The board is very pleased with Lars accepting this challenge. We will together with the management team seamlessly continue the work to find the best refinancing solution for the group, further develop Norske Skog’s competitive and solid asset portfolio, in addition to realising the group’s growth initiatives.
Norske Skog has high debt, but positive cash flow and no bond maturities before December 2019.”
Earlier, Norske Skog informed that Sven Ombudstvedt had notified the board of directors that about his resign as President and CEO of Norske Skogindustrier ASA.
About Norske Skog:
The company is a leading producer of newsprint and magazine paper. The company has 9 paper mills around the world.