Kenneth Haavet leaves Orkla

Executive Vice President Kenneth Haavet (41) has resigned from his position as CEO of Orkla Consumer & Financial Investments. Thomas Ljungqvist (42) has been appointed interim Executive Vice President and CEO of the business area. He will be a member of Orkla’s Group Executive Board.

“I want to thank Kenneth for developing Orkla Consumer & Financial Investments into a growth-oriented, profitable business area in Orkla. Under his leadership, we have made a number of strategically important acquisitions and taken the area in exciting directions. Kenneth has helped to make Orkla one of Europe’s fastest growing players in franchised pizza outlets,” says Jaan Ivar Semlitsch, President and CEO of Orkla ASA.
   
Kenneth Haavet joined Orkla on 1 February 2020, having come from the position of Principal in the private equity company FSN Capital. Haavet has decided to accept a position outside the group where he will focus more directly on business development and strategy.
   
“I look back on two interesting and professionally developing years, and I am grateful for having had the opportunity to collaborate with so many competent individuals across the group. The companies in Consumer & Financial Investments are well positioned for further growth. We are well on our way to delivering on our Aspirations 2030 ambition of developing a stronger Out of Home business in Orkla, and we have begun the process of building a leading European pizza franchise player,” says Kenneth Haavet.
   
Thomas Ljungqvist joined Orkla in 2008. He is currently CFO of Orkla Consumer & Financial Investments and head of Orkla Ventures. From 2018 to 2020 he was SVP Investor Relations. Prior to that he was CFO of Orkla Investments, where he developed Orkla’s former industrial and financial operations. He has also worked with M&A and business development. Before starting at Orkla, he worked with acquisitions and strategy in UBS (Zurich) and Capgemini (Stockholm). Ljungqvist has an M.Sc. in International Business & Finance from the Stockholm School of Economics.
   
“I am very glad that Thomas has accepted the role of interim CEO of Orkla Consumer & Financial Investments. Having held a variety of positions in the group, he knows Orkla well and has solid experience in M&A and the financial market. I wish Thomas and Kenneth every success with their new responsibilities,” says Jaan Ivar Semlitsch.
   
Thomas Ljungqvist took up his position on 16 February 2022. Kenneth Haavet will be at Thomas’s disposal until the end of April to ensure a seamless transfer.
   
Orkla Consumer & Financial Investments consists of two parts:

• Consumer Investments includes New York Pizza, Kotipizza, Orkla House Care, Lilleborg and Pierre Robert.
• Industrial & Financial Investments includes Jotun (42.6% interest), Hydro Power, Orkla Eiendom and Orkla Venture.

About Orkla
Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out of home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and has its headquarters in Oslo, Norway. In 2021, the group had a turnover of NOK 50.4 billion, and it has around 21,500 employees.

Oslo, 16 February 2022

Ref.:  
Group Director Corporate Communications and Corporate Affairs
Håkon Mageli, mob.: +47 928 45 828
hakon.mageli@orkla.no