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Sven Arild Andersen was appointed President and CEO on a fixed term contract on 1 January 2000. His contract expires on 31 December 2005, and allows both Mr Andersen and Oslo Børs to either terminate his employment or renew for a further period. Mr Andersen is entitled to a pension from the expiry of the fixed term period at the end of 2005, and he has advised the Board that he wishes to retire from this date.
"Oslo Børs has been through a demanding period both strategically and operationally, and I have found it extremely worthwhile and exciting to lead this highly qualified organisation through such challenging times. It now seems that the new challenges for Oslo Børs will only be resolved some time in the future, and will involve long-term and time-intensive work. Against this background, I think it is appropriate to hand over the baton to someone new next year, when I will be 62”, explains Sven Arild Andersen.
"I was looking forward to Sven Arild Andersen carrying on as President and CEO beyond the end of his fixed-term contract, but I respect the decision he has taken. Working with Sven Arild over the last few years has been a pleasure for both the Board and for me as Chairman. I would particularly like to recognise his success in converting the stock exchange from a self-owning foundation to a public limited company, and must also mention the sound earnings he has created for the exchange's shareholders. Oslo Børs has made great strides forward over the last few years, and is now recognised as a marketplace with very good liquidity that attracts great investor confidence, both in Norway and internationally. We will now start work on finding his successor", comments Harald Norvik, Chairman of the Board of Oslo Børs.
