SpareBank 1 SR-Bank ASA: Ingvald Løyning proposed as new chairman of the board of SpareBank 1 SR-Bank

SpareBank 1 SR-Bank's nomination committee has recommended to its Supervisory Board that the president and CEO of the Kverneland Group, Ingvald Løyning, should be elected as the new chairman of the board and that CEO of Stavanger Aftenblad, Siv Juvik Tveitnes, should be elected as a new board member.

The Nomination Committee will present its recommendations to the bank's supervisory board at a meeting on 5 June 2014.

At the same time, the Nomination Committee recommends that the current chair of the Supervisory Committee, Einar Risa, be replaced by Per Sekse. Sekse has a wide-ranging network of contacts in the region thanks to having had his own legal practice in Sandnes since 1983 and seats on various boards. Einar Risa, the current chair, is not eligible for re-election due to the statutory provisions and articles of association's rules on term limits.

Kristian Eidesvik has chosen to retire as chairman of the board after having been a board member from 1997 to 2006, and chairman from 2006 until now.

Ingvald Løyning

Ingvald Løyning, the proposed new chairman of the board, was born in 1956. Originally from Finnøy in Ryfylke where he still has his adress. Ingvald Løyning became the president and chief executive of the Kverneland Group on 1 April 2006. Løyning graduated in trade and economics from the Oslo School of Business Administration/BI. Løyning worked for the Kverneland Group from 1992 to 1995. He spent five years as the chief executive of the fish feed producer Skretting. In 2000, Nutreco, which owns Skretting, bought Hydro Seafood and merged the company with its other fish farming operations. Løyning was in charge of the merged company, Marine Harvest, from 2000 until the autumn of 2002. The same autumn, Ingvald Løyning was assigned responsibility for Nutreco's worldwide fish feed operations. Løyning also spent eleven years with IBM in various positions. Løyning has been the chair of the Rogaland branch of the Confederation of Norwegian Enterprise (NHO) and IRIS, and has sat on a number of boards.

Siv Juvik Tveitnes

Siv Juvik Tveitnes has been the chief executive of Stavanger Aftenblad since 2013. She has worked with restructuring processes in the Schibsted Group for many years. Tveitnes was born in 1974 and holds a Master of Science in Management from the University of Bath, UK, and a Cand.Mag. degree in media science, psychology and business administration from the University of Bergen. She lives in the municipality of Sola. Tveitnes has extensive experience and expertise in the use of, and restructuring for, digital media in relation to the financial and media industries. This is an important area for the board of SpareBank 1 SR-Bank and it needs to strengthen its expertise in it.

The Nomination Committee also recommends that Gunn-Jane Håland, Stavanger (one year), Birthe Cecilie Lepsøe, Bergen (two years) be re-elected and Oddvar Rettedal, employee representation (two years).

Erling Øverland, Odd Torland, and Tor Dahle are not up for election

Stavanger, 19 May 2014

Contact people:
Einar Risa, Chair of the Nomination Committee, Tel.: (+47) 992 05139
Thor-Christian Haugland, Executive VP Communications, Tel.: (+47) 480 31633