Kjerstin Braathen taking over as CEO of DNB 1 September 2019

Oslo (13 June 2019) The Board of Directors of DNB has appointed Kjerstin Braathen as new Group Chief Executive of DNB. Rune Bjerke has notified the Board that he wishes to step down as of 1 September, after nearly 13 years as head of DNB. The Chair of the Board, the present CEO and the newly appointed CEO will meet the press today at 10:00 a.m. in DNB’s head office in Bjørvika. 

The Board of Directors of DNB has carried out an extensive process to find the right person to take over the baton from Rune Bjerke.

"The Board has been looking for the most eligible candidate to lead DNB on the next leg of the race. We have found the perfect candidate, and we are very happy that Kjerstin has agreed to take on this task. DNB is an institution of great importance to society. Therefore, we need a CEO who helps build a high level of trust from society, who promotes good customer experiences and who ensures high profitability so that the bank can invest in growth and new products," says Chair of the Board Olaug Svarva.

The Board started the process of finding Rune’s replacement this winter, and has considered several good candidates.

"In the Board’s view, it is a great advantage to have found an internal successor with 20 years’ experience from DNB. We are confident that Kjerstin, along with all the skilled employees in DNB, will continue to develop great products and services for our customers," says Olaug Svarva.

Kjerstin Braathen is leaving the position as Chief Financial Officer in DNB, and before that, held the position as Group Executive Vice President for Corporate Banking. She worked in the bank’s department for shipping and offshore for 13 years, and has been Chair of the Board of several of DNB’s wholly-owned subsidiaries. Kjerstin comes from Lillestrøm north of Oslo, is married and has three children.

"I feel incredibly privileged to be given the opportunity to lead this super strong DNB team. We have a major corporate responsibility, and DNB is important to and for customers all over Norway. We are there for our customers through all important phases of life, and we root for those who dare follow their dreams, thereby creating jobs and value for society. I am really looking forward to 1 September," says Kjerstin Braathen.

Rune Bjerke has been Group Chief Executive of DNB since 1 January 2007. From 2008 until today, DNB has shown the best value development of the 30 largest European banks. DNB has gone from being the fifth largest bank in Scandinavia to becoming the largest in terms of market value.

"I would like to congratulate the Board on making such a good recruitment choice, and I want to thank everyone in DNB for all the fantastic experiences I’ve had working in the bank. There hasn’t been one boring day at work, and every single day, I’ve met new customers and employees who have reaffirmed my faith in our project. It’s great to finish off this leg of the race seeing that our customers and investors also seem to believe in what we have been working with over the past few years," Rune finishes off.

"Rune has made an impressive effort for DNB and has implemented a number of major changes, both culturally and financially. Today, DNB is a solid and profitable bank that is also able to create future-oriented services, as demonstrated through the development of Vipps. The Board is extremely grateful for the efforts Rune has put in over many years," says Olaug Svarva.

According to his employment contract, Rune Bjerke was to step down by the summer
of 2020.

Invitation to press conference:
Chair of the Board Olaug Svarva, the present Group Chief Executive Rune Bjerke and the newly appointed Group Chief Executive Kjerstin Braathen will meet the press in DNB’s premises in Bjørvika today at 10:00 a.m. Attendees are kindly asked to be there a little in advance. Individual interviews will be given after the press conference.

New photos of Kjerstin Braathen are freely available to the press here: https://www.dnbnyheter.no/bildebank/kjerstin-r-braathen/ 

Graph showing the value development of European banks over the last 10 years: https://www.dnbnyheter.no/wp-content/uploads/2019/06/Avkastning-europeiske-banker.png

CV Kjerstin Braathen

Chief Financial Officer, DNB
2017 – Present

Group Executive Vice President of Corporate Banking, DNB
2013 – 2017

Several positions in shipping & offshore, DNB
1999 – 2013

Trainee and Chartering Manager, Norsk Hydro ASA
1995 – 1999

For further information, please contact:

Rune Helland, head of Investor Relations, tel: +47 977 13 250
Thomas Midteide, group executive vice president, Media & Marketing, tel.: + 47 962 32 017

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.