Hans Rindal resigns as CEO of Moelven

The Board of Directors of Moelven Industrier ASA today agreed with Hans Rindal that he is to step down as CEO. Rindal has been employed by Moelven Industrier ASA since 1995 and has held the position as CEO since 2006.

Moelven Industrier ASA has undergone a challenging period since the financial crisis, and has struggled with poor and partially negative earnings. Earnings so far in 2014 are showing good improvement, assisted by the effect of internal improvement measures and a better market.

Chairman of Moelven Industrier ASA, Asbjørn Reinkind, would like to thank Rindal for his efforts through 19 years at Moelven.

“In recent years several important projects have been initiated to ensure Moelven a competitive and robust platform, and thereby create growth and develop shareholder value. The Board is committed to continuing the initiatives and projects that have been started,” Reinkind says.

The Board has appointed Morten Kristiansen (55) as acting CEO.

Kristiansen holds a degree in structural engineering and is a graduate economist from the Norwegian Business School. He was employed by Moelven from 1981 to 1994 and subsequently from the year 2000. He is currently director of Moelven Industrier with responsibility for Forestry.

The Board will wait for some time before initiating the process to recruit a new CEO.

For further information:

Chairman Asbjørn Reinkind, tel. +47 901 94 048

Moelven industrier ASA is a Scandinavian industrial group that supplies products and associated services to the Scandinavian building market. The Group's businesses employ over 3.400 persons and have a total annual turnover of some NOK 8 billion. The Group's close to 52 business production units are organised into three divisjons: Timber, Wood and Building Systems.
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