HNA/HNB - Organisational and management changes

Hafslund ASA is strengthening its focus on customers and operations in order to support the company's strategic focus on power and security services, and has accordingly undertaken changes to this effect.  Hafslund's main operational activities will be organised in the two business areas Operations and Markets.
The business area Operations will comprise all responsibilities concerning the group's different activities related to the power network, power generation, construction, electricity security and installation.
The business area Markets will comprise all the sales and marketing responsibilities concerning power and security services directed towards private and corporate customers, including co-ordination of total sales efforts and strengthening of the group's customer oriented activities.
In order to co-ordinate the group's various activities related to business-, products- and HR development, two new special units have been established: the Business Development unit comprising Hafslund Venture, M&A and market intelligence, and the Organisational Development unit.
Thus, apart from CEO Rune Bjerke (43), the new group management team will constitute:
-         CFO Christian Berg (34) - Finance: Mr. Berg continues in his position as CFO in the group. He has worked with Hafslund since 1998 and previously worked with Price Waterhouse within corporate finance consulting.
-         SVP Operations Per Kristian Olsen (53): Mr. Olsen has been group manager responsible for the Network area in Hafslund since March 2002, and he previously held the positions as the CEO of Fredrikstad Energi AS and the CEO of Skanska AS.
-         SVP Markets Tove Pettersen (32): Ms. Pettersen has been group manager responsible for the Power Sales area, and has been with Hafslund since 1997. For several years she has held a key position regarding Hafslund's industrial investment portfolio, and has also been engaged in power trading and risk management.
-         SVP Business Development Bjørn Frogner (41): Mr. Frogner has been group manager responsible for the Constructing and Security areas. He has worked with Hafslund since 2001, and has previously held the position as CFO in Schibsted Trykk AS in additions to several positions in the Veidekke group.
-         SVP Organisational Development (constituted) Trond Aker (58): Mr. Aker comes from the position as SVP Human Resources in Hafslund ASA, and has held similar positions within Alcatel-STK.
The changes will take effect from 11 November 2003.
Oslo, 30 October 2003
For further information, please contact
SVP PR Frode Geitvik, tel. +47 22 43 53 86, mobile + 47 95 84 39 33


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