Changes in Orkla's Group Executive Board

Orkla will make changes in its Group Executive Board as of 1 October. The intention is to strengthen the Group's strategic priority areas.

As from 1 October 2018, the Group Executive Board will consist of the following members:

Peter A. Ruzicka will continue as President and CEO.

Jens B. Staff will continue as EVP, CFO.

Karl Otto Tveter, (today: Chief of Group Functions and Group Director Legal Affairs): EVP, Strategy, Development & New Growth Areas.

Atle Vidar Nagel Johansen, (today: EVP, CEO Orkla Foods): EVP, Supply Chain.

Ann-Beth Freuchen, (today: EVP, CEO Orkla Confectionery & Snacks): EVP, CEO Orkla Foods (Nordics and Baltics).

Johan Wilhelmsson, (today: CEO Orkla Foods Central Europe and the Baltics): EVP, CEO Orkla Foods (International). The intention is to increase focus on Central Europe as an important geography for value creation and expansion.

Stig Ebert Nilssen will continue in his position as EVP, CEO Orkla Care.

Johan Clarin, (today: Group Director, Operations): EVP, CEO Orkla Food Ingredients.

Christer Grönberg, (today: Group Director, HR): EVP, Group Functions.

The process of recruiting the CEO Confectionery & Snacks has begun.

All of the above will report to President and CEO Peter A. Ruzicka.

Håkon Mageli will remain in his role as Group Director, Corporate Communications and Corporate Affairs. He will still be part of the Extended Executive Board.

After successful divestments of key non-core assets, Terje Andersen will withdraw from Orkla's Group Executive Board. He will retain responsibility for Orkla's Real Estate and Hydro Power businesses. He will continue as one of Orkla's representatives on the board of Jotun.

Orkla ASA

Oslo, 13 July 2018

Ref.:

Group Director Corporate Communications and Corporate Affairs
Håkon Mageli
Tel: +47 928 45 828

SVP Investor Relations
Thomas Ljungqvist
Tel: +47 482 59 618