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Scandinavian Property Development ASA (OSL:SPD) Kaare Frydenberg will with effect from 1 September 2008 replace Stein Haugbro as CEO of Scandinavian Property Development ASA.
"Stein Haugbro has been the CEO of the company from its start, and in connections with discussions about the future organization he has asked the board to be relived from his duties. We thank him for his efforts and for his cooperation in handing over the business to our new CEO" states Jan Petter Storetvedt, chairman of the board of SPDE.
Kaare Frydenberg has extensive top management experience from public and private companies in Norway and abroad. He has i.a. held the positions as CEO of Dagens Næringsliv/NHST AS, Aftenposten AS, EVP of Pripps Ringnes AB and CEO of Posten Norge AS. Frydenberg is partner in Saga Corporate Advisors AS, and takes the position in SPDE based on a management for hire contract.
"We are extremely happy that Kaare Frydenberg takes over the position as CEO. We are sure that his knowledge and long experience will be of great value for SPDE, and look forward to work together with him in order to further develop SPDE" states Storetvedt on behalf of SPDE's board.
For more information, please contact:
Chairman of the Board, Jan Petter Storetvedt, phone +47 916 30 001
For more information about SPDE, please visit our web site www.spde.no
