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Changes in the Orkla Group Executive Board

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Roar Engeland is resigning as Orkla Executive Vice President and head of Orkla Financial Investments. 

Roar Engeland and Orkla have concluded that their views on Orkla's future development differ. The parties have therefore entered into an agreement whereby Engeland is to leave the Group.

On behalf of Orkla, President and CEO Bjørn M Wiggen would like to thank Roar Engeland for his significant efforts for the benefit of the Group, including the very good results he has achieved as head of Orkla Financial Investments for the past five years.

In accordance with his resignation agreement, Roar Engeland will receive pay and contractual benefits for 12 months in addition to his six-month period of notice.

Orkla ASA,
Oslo, 14.02.2011

Johan Chr. Hovland
SVP Corporate Communications and Public Affairs, Orkla ASA
Tel.: +47 91 76 34 91

Rune Helland
SVP Orkla Investor Relations
Tel.: +47 22 544411

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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