New Chairman of the Board of Simrad Optronics ASA

Ove Gusevik, Chairman of the Board of Simrad Optronics ASA, has resigned from the Board with immediate effect. Mr. Gusevik is entering the position as Senior Partner in First Securities AS, a position incompatible with his chairmanship in Simrad Optronics ASA. Terje Eidsmo, Deputy Chairman of the Board of Simrad Optronics ASA since 2006, is entering the chairmanship with immediate effect. "All board members are highly experienced and have been in service for a long time. I am convinced that the chairmanship of Mr. Eidsmo will imply continuity and the same efforts by the Board as in the past supporting the continued growth of the Group in the years to come", says Jon Asbjørn Bø, President & CEO of Simrad Optronics ASA. "Simrad Optronics ASA has had a very positive growth in the three years I have been serving as Chairman", says Ove Gusevik. “The demerger of Simtroncis ASA and the acquisition of Vinghøg AS have contributed to strengthen the industrial platform, increased the focus of the company, and increased shareholder value. Simrad Optronics ASA has as one of very few companies listed on Oslo Stock Exchange, during the financial crises, in four running quarters presented increased revenues and profits compared to previous year. It has been a pleasure working with capable colleagues in the Board, a first class management team, and dedicated employees", concludes Mr. Gusevik. For further information, please contact Ove Gusevik, phone (+47) 915 55 062, e-mail gusevik@industriutvikling.com or Jon Asbjørn Bø, phone (+47) 930 86 932, e-mail jab@simrad-optronics.no. Homepage: www.simrad-optronics.no