Press release -
New Board of Directors at Orkla Confectionery & Snacks
A new Board of Directors has been appointed today at Orkla Confectionery & Snacks (OCS). Orkla’s EVP & Investment Executive Audun Stensvold will serve as Board Chair. He will be joined on the Board by two external Board members, Thomas A. Bittinger and Gro Krigsvoll.
The Board of Directors of OCS will also comprise SVP Marte Kaarbø Mathisen from Orkla’s investment team, as well as two employee representatives who have not yet been chosen. Orkla’s President and CEO Nils K. Selte and CFO Harald Ullevoldsæter will serve as observers on the Board.
On 1 March Orkla ASA was established as an investment company with 12 independent portfolio companies. Several of the companies, like OCS, will have external Board members.
Thomas A. Bittinger, who is an Austrian citizen, has top leadership experience from Procter & Gamble, Reckitt Benckiser, Mars and Continental Foods across Europe. He currently serves as advisor and chairman of the Supervisory Board of More Than Meals, a portfolio company of DBAG, which owns the companies Abbelen (in Germany) and Oscar Mayer (in England). Gro Krigsvoll has top leadership experience from Mondelez International, as well as leadership experience in marketing and sales from Tine and Ringnes. At present, she is partner at Visindi Executive Search.
“I am very pleased that Thomas and Gro have agreed to join the Board of OCS. Thomas has solid international experience from several branded goods companies, and he has generated good results for shareholders for many years. Gro has extensive insight into and knowledge of the Nordic grocery market in general and confectionery & snacks categories in particular,” says Nils K. Selte, President and CEO of Orkla ASA.
In 2022, OCS had a turnover of NOK 7.6 billion and operating profit (EBIT) adj. of NOK 1 billion. At year end, the company had around 3,000 employees in seven countries in the Nordics and Baltics. Ingvill T. Berg is CEO of the company. Orkla Confectionery & Snacks holds leading positions in the confectionery, biscuits and snacks categories. Its many well-known brands include KiMs, Nidar, Stratos, Sætre, Göteborgs Kex, OLW, Panda, Laima, Selga, Taffel, Kalev and Nói Síríus.
Skøyen, 23 June 2023
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Orkla ASA is a leading industrial investment company. Its scope of activity is brands and consumer-oriented companies. At present, Orkla has 12 portfolio companies.
Orkla has a long-term, industrial approach to its portfolio companies. We invest in companies where we can contribute to further value creation through our industry expertise, consumer insight and experience in building leading brands. Through active portfolio management we target fast-growing consumer segments and markets.
Orkla ASA is listed on the Oslo Stock Exchange.
