Q-FREE - TOR EIRIK KNUTSEN APPOINTED NEW CFO

Trondheim 6 April 2017

Tor Eirik Knutsen (42) has been appointed new CFO of Q-Free. He currently holds the position as Group CFO for Norsk Mineral AS and will join Q-Free no later than 1 October 2017.

During his career, Knutsen has been part of high-performing technology companies. He has previously worked as EVP & CFO of Conax and Financial Director and Business Development Director in Tomra Systems ASA. His work experience also includes various positions with Deloitte and Cap Gemini Ernst & Young. Knutsen brings with him a diverse financial background, which includes experience with M&A transactions, business development projects, and cost optimization initiatives. A native Norwegian, Knutsen received his Master of Science Business degree from the Norwegian School of Economics (NHH) in Norway.

Present CFO, Roar Østbø, has decided to pursue other career opportunities. Østbø has held the positon as CFO in Q-Free since 2009. He will remain in his position until end of May 2017. In the interim period, President and CEO Håkon Volldal and Global Finance Director Bjørn Kleven will handle the CFO duties.

- We are very excited to have appointed Tor Eirik Knutsen our new CFO. Given his background and experience, we are confident he will play a key role in restoring profitable growth in Q-Free. We would also like to thank Roar Østbø for his dedication to Q-Free during his tenure. Østbø has been instrumental in transforming Q-Free from a pure tolling company into a modern ITS company, comments President & CEO in Q-Free, Håkon Volldal.


For questions, please contact

Håkon Volldal, President & CEO (+47 97719973)

About Q-Free

Q-Free is a leading global supplier of ITS (Intelligent Transportation Systems) products and solutions. The company has approximately 420 employees, offices in 20 countries, and presence on all continents. Headquartered in Trondheim, Norway, Q-Free is listed on the Oslo Stock Exchange under the ticker QFR.

www.q-free.com
Twitter: @Q-FreeASA

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