Ole Vinje resigns as CEO at North Investment Group AB (publ). Tore Skedsmo is appointed as new CEO.

Ole Vinje has today informed the board in North Investment Group AB (publ) (the "Company") that he will resign as CEO.

Tore Skedsmo is appointed as new CEO of the Company. Tore has 5 years' experience from the Company as CFO and with long experience from various international companies. He will lead together with the rest of the management with extensive industry experience.

"On behalf of North Investment Group's Board of Directors, personnel, and shareholders, we would like to thank Ole for his contribution to the company's development the last 2 years. His work to reorganize and build a common group with a shared brand (Sono), safely lead the Company through Covid-19 period, and digitalizing the Company has been important measures to prepare the Company for the years to come," says Helge Stemshaug, Chairman of the Board of Directors.

"The possibility to learn to know this Company has been an amazing journey. Over the last 2 years we have restructured and simplified the Group and build an increased cooperation cross-boarder within the Group. The investments within digitalization and sustainability will help the company reach it ambitious strategic goals for the years to come. Going forward the focus will be on operational excellence and sales of the group's broad product portfolio. I am confident that this will be safely led by Tore and the rest of the management with extensive business experience.", says Ole Vinje.

For further information, please contact:

Helge Stemshaug
Chairman of the Board of Directors
Tel: +47 928 81 396
E-mail: hst@bahr.no

Tore Skedsmo
Tel: +47 952 25 306
E-mail: tore.skedsmo@sono.no