Executive Vice President, CFO, Arne Giske, will take over the responsibility for Veidekke Property, while Managing Director Vidar Aarvold of Kolo Veidekke (asphalt operations) will be head of the Industry Division. Bente Lillestøl will be executive vice president in charge of Human Resources. She has extensive managerial experience from project management and as leader of specialist groups in Veidekke. Jørgen Wiese Porsmyr presently head of Corporate Accounts will join the corporate management team, where his responsibilities will also include purchasing, strategy and IT.

"Changes of this kind are demanding, but necessary at times," says Mr. Venold. "We consider it one of our strengths to be able to find candidates for new, top managerial roles within our own organisation. I am also glad that we are able to retain the expertise of the persons who are leaving the corporate management team by giving them new responsibilities in the Group," he adds.

Mr. Giske will continue to represent the corporate finance and legal fields in the corporate management team. Leif Johansen, currently head of Veidekke Property, will continue to work with property development, while Eigil Flaathen, now Executive Vice President Industry, and Torkel Backelin, Executive Vice President HR and Strategy, will work with development projects across the Group.

"With these changes and with Vidar, Bente and Jørgen in place, I am confident that we will have a well-rounded corporate management team," says Mr. Venold.

For further information, please contact:

President & CEO Terje R. Venold, telephone +47 21057701 or +47 905 82 323

Executive Vice President Communication Kai Krüger Henriksen, telephone +47 21057704 or +47 905 19 360

VEIDEKKE ASA