Veidekke ASA: Changes in corporate management of Veidekke

In connection with the forthcoming change of President and CEO in Veidekke, the company will make some adjustments in corporate management through changes of responsibilities in the line.

Going forward, the Group will be organized under the management of three executive directors:

• Veidekke's operations in Sweden and Denmark will be jointly managed by Per-Ingemar Persson. The activities will be organized in four units: Veidekke Bostad, Veidekke Anlegg Sverige, Veidekke Bygg Sverige and Hoffmann. 
• Dag Andresen will continue to head the four business areas in Veidekke Entreprenør, i.e. the building regions Øst, Syd, Nord/Vest and the construction region Anlegg.
• Jørgen Wiese Porsmyr, current CFO, will be handed responsibility for the Veidekke Industri and Veidekke Eiendom units in Norway.

These changes come into force on 15 April. As of this date Arne Giske will take over as directly responsible for these operating units in the Group (COO). Jørgen Wiese Porsmyr will also retain his current role as CFO until a new person is in place in this position.

The main purpose of the changes is to both renew and strengthen. "It is particularly important that we gather the units in Sweden under joint management in order strengthen our position in this market. By doing this I believe that we will be able to utilize the skills and expertise of more executives, and we create management teams that may give Veidekke an even stronger strategic management focus," Arne Giske says.

For more information please contact:
SVP Communication Kai Krüger Henriksen, tel. +47 21 05 77 04 / +47 905 19 360

Veidekke is one of Scandinavia's leading contractors and property developers with a turnover of NOK 20 billion (2012) and 6,300 employees. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals. Veidekke is characterised by a strong corporate culture with employee involvement and co-ownership as important cornerstones. More than half of the employees are co-owners, holding around 20% of the Group's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.

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