Kim Wahl has been nominated as the new chair of Norske Skog after Lars W Grøholt informed the nomination committee that he would not be seeking re-election. The nomination committee has also recommended that Øivind Lund be re-elected as deputy chair, while Kari Broberg is recommended for election as a new director of the group.

 

Grøholt has been Norske Skog's chair for five years, notes Idar Kreutzer, chair of the nomination committee. "The international paper industry has been through several difficult years, and Norske Skog has therefore undergone an extensive restructuring process during Grøholt's time as chair. We thank him for his commitment in this demanding period."

 

Wahl is currently a partner in and deputy chair of Industri Kapital, a European private equity company which owns 24 companies throughout the continent with a combined turnover of more than EUR 8 billion. With an MBA from Harvard, his previous appointments include jobs with US investment bank Goldman, Sachs & Co in London and New York.

 

"Wahl has very strong strategic experience and expertise," observes Kreutzer. "He also has international industrial experience, knowledge about and familiarity with the international finance business, and experience from large and demanding restructuring processes.

 

"Combined with his strong person qualities, this means that he meets the requirements for a new chair specified by the nomination committee. Wahl will contribute an expertise and experience which will be important for Norske Skog in the future."

 

Broberg has been nominated by the committee to replace Annette Brodin Rampe, who is retiring from the board. With an MSc in business economics from the Norwegian School of Management, she currently works as a company adviser and farmer. Her earlier career includes jobs with Hartmark Consulting, Jordan, Alcatel Telecom and Aker Engineering.

 

The nomination committee has also recommended changes to Norske Skog's corporate assembly.

 

Helge Evju has been nominated as the new chair of the assembly, and thereby also of the nomination committee. Kreutzer is recommended as deputy chair of both assembly and committee. In addition, executive vice president Øyvind Birkeland at DnB NOR Kapitalforvaltning has been nominated as a new member of the assembly in succession to Svein Aaser, who has resigned.

 

The nomination committee's recommendations for shareholder-elected directors and members of the corporate assembly are accordingly as follows:

 

Board of directors: Kim Wahl (chair), Øivind Lund (deputy chair), Halvor Bjørken, Gisele Marchand, Ingrid Wiik and Kari Broberg.

 

Corporate assembly: Helge Evju (chair), Idar Kreutzer (deputy chair), Emil Aubert, Ole H Bakke, Ann Kristin Brautaset, Kirsten C Idebøen, Birgitta Rødstøl Næss, Christian Ramberg, Tom Ruud, Turid Fluge Svenneby, Halvard Sæther and Øyvind Birkeland.

 

The nomination committee in Norske Skog currently comprises Idar Kreutzer (chair), Helge Evju, Gunn Wærsted and Ole H Bakke.

 

These elections will be held at Norske Skog's annual general meeting on 12 April 2007.

 

All recommendations by the nomination committee are unanimous.

 

Further information from:

Idar Kreutzer, chair, nomination committee, tel: +47 22 31 11 64

Tom Bratlie, vice president corporate communications, Norske Skog, tel: +47 90 52 19 04

 

Oxenøen, 6 March 2007

 

Norske Skog
Corporate communications