Selvaag Bolig ASA: Management changes at Selvaag Bolig

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Rolf Thorsen is stepping down as CEO of Selvaag Bolig ASA. He is being replaced by Sverre Molvik as CEO and Øystein Klungland as COO.  

Following an evaluation process, Thorsen and the board have come to the conclusion that he will step down with immediate effect after leading the company since May 2019.

“Thorsen’s time with the company has proved shorter than we had planned,” says chair Olav H Selvaag. “Nevertheless, I’d like to thank him for our collaboration during the time we’ve worked together.”

Molvik is taking over as CEO immediately. He has been with the company for 10 years, first as portfolio vice president and then as CFO for six years. He was previously CEO of Skanska Bolig AS and regional vice president of Peab Bolig AS. With an MSc in engineering, Molvik also holds an MBA. 

“Molvik knows both the company and the market extremely well,” says Selvaag. “During his time with us, he has held senior executive roles in both the core business and strategic financial activities. We’re convinced he will lead the company’s continued progress in a positive way.”

Klungland, currently executive vice president for Greater Oslo, will become COO. With Selvaag since 2005 and at Selvaag Bolig from 2010, he has broad experience of developing and executing housing projects from both contractor and construction client sides. Klungland holds an MSc in engineering.

“The aim is that the role of COO will secure continued high value creation in project development and implementation,” says Selvaag.

“The role will also provide us with extra drive in concept development in order to meet tomorrow’s housing needs. Society is changing, but we’ll continue to build homes for all groups of customers in a cost-effective way."

Thorsen has a 12-month pay guarantee agreement.


Further information from
Olav H Selvaag, chair, Selvaag Bolig ASA
Telephone: +47 90
16 73 88, e-mail: olav.selvaag@selvaag.no

Sverre Molvik, CEO, Selvaag Bolig ASA
Telephone: +47 40
10 05 85, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, Selvaag Bolig ASA
Telephone: +47 95
77 55 93, e-mail: kgr@selvaagbolig.no

 

Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience. The company is headquartered at Ullern in Oslo.

www.selvaagboligasa.no/en

 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
 

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