Sven Arild Andersen - New President And Chief Executive Officer Of The Oslo Stock Exchange

The Stock Exchange Board has appointed Sven Arild Andersen (55) as the new President and Chief Executive of the Oslo Stock Exchange. Andersen comes from the Norsk Hydro group, where he has held a number of senior management positions since 1974. He has been the Managing Director of Pronova a.s., which was previously a listed company, since 1991. His previous appointments include divisional Director of the Biomedical Division and Managing Director of Norsk Hydro Olje AB in Sweden. Sven Arild Andersen has a Master of Science degree in Business from the Norwegian School of Economics and Business Administration in Bergen, and the Advanced Management Program of the Harvard Business School. He has been a member of the board of a number of Norwegian and international companies, including Braathens SAFE and Freia Marabou. The position of President of the Stock Exchange is a fixed-term appointment for a period of six years, and Andersen will take up his post in January of next year. "The Stock Exchange Board is very pleased that Sven Arild Andersen has accepted the offer to lead the exchange into a new and important phase. Andersen has wide industrial experience from listed companies, and he has the qualities that are needed in a situation where the Oslo Stock Exchange is to strengthen its competitive position and its commercial orientation. Sven Arild Andersen has demonstrated excellent qualities of leadership and action in important positions in the Norsk Hydro group, and his experience will be of great benefit to the future development of the exchange", comments Ole Lund, the Chairman of the Stock Exchange Board.