Ole Feet appointed as CEO of BWG Homes ASA

Lars Nilsen, who has been CEO since 2006, has decided to resign in order to enter the Board of BWG Homes ASA. The Board has appointed the COO of BWG Homes ASA, Ole Feet, as the new CEO.

The change will be done in connection with the General Meeting on 24 May. The Board has conducted a recruitment process and has decided to appoint Ole Feet as new CEO. Ole Feet takes up the position from the date Lars Nilsen steps down.

“We consider Ole Feet as a highly qualified manager with in-depth knowledge of the Group's operations both in Norway and Sweden. Under his leadership, Block Watne has delivered good results for many years. We are delighted that he has agreed to take over as CEO,” says chairman Eva Eriksson.

“With more than 20 years of operational management responsibilities for Block Watne and subsequently BWG, I have continuously assessed the best manager in the right place. On this background Ole Feet took over as CEO of Block Watne in 2006. Since the spring of 2012 Ole Feet has also held the position as COO of BWG Homes ASA with responsibility for all operational activities in the Group. I am pleased that the Board shares my opinion that Ole Feet is the best person to head the Group going forward. I am confident that the Group will have a competent and experienced manager with a great working capacity and motivation to create good results, and I look forward to follow the Group in my new role,” says Lars Nilsen.

Shareholder-elected directors are up for election at the Annual General Meeting held on 24 May 2013. The current chairman has declined re-election. The recommendation from the Nomination Committee with proposals for new directors and chairman will be attached to the notice of the Annual General Meeting. The notice will be published as a stock exchange announcement on 3 May and published simultaneously at bwghomes.no.

Further information from:

Chairman Eva Eriksson, tel: +46 706 443 497

CEO Lars Nilsen, tel: +47 23 24 60 00

COO Ole Feet, tel: +47 900 91 230

BWG Homes develops, sells and constructs residential homes in the Nordic region. The brands owned by the Group are Block Watne and Hetlandhus in Norway, Myresjöhus and SmålandsVillan in Sweden. Ranked as a leading residential house builder in its markets, the Group annually completes approx. 2 000 new homes through own residential projects and for individual customers. BWG Homes has 1 015 employees. In 2012 the turnover was NOK 3.5 billion.