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The Nomination Committee has proposed a Board of seven Shareholder Elected
Directors; all of these are independent of the company’s executive management
and main business partners. All proposed Directors are also independent of the
Company’s main shareholders.
The proposed composition of the Board reflects the Company’s global ambitions
and opportunities as well as the variety of experience, expertise and
qualifications required when entering a new growth phase, with launch and
commercialization of LTE products in new markets.
The Nomination Committee suggests that Mr. Birger Steen shall be re-elected as
Chair of the Board. Mr. Steen has served as Chair since December 2018, when he
was elected to replace Mr. Terje Rogne. Birger Steen is an experienced
technology leader and board professional with background as CEO of Parallels
Inc., Vice President Worldwide SMB and Distribution at Microsoft, General
Manager of Microsoft Russia and Microsoft Norway, CEO of Scandinavia Online and
Vice President of Business Development in Schibsted ASA. He has also worked at
McKinsey & Company as a consultant and engagement manager and is currently a
Board Member of Schibsted ASA and Nordea Bank AB.
The Committee also proposes re-election of Ms. Inger Berg Ørstavik, who serves
as associate professor at the Department of Private Law, University of Oslo. She
has been a partner with the law firm Schjødt AS and a lawyer at the office of
the Attorney General for Civil Affairs. Ms. Ørstavik has a Ph.D. from the
University of Oslo in the areas of intellectual property law and competition
law.
Furthermore, the proposal includes the election of the following new Directors:
o Mr. Jan Frykhammar, who is former interim CEO, CFO, Head of Professional
Services and CFO North America in Ericsson AB. He has extensive knowledge of the
telecom market and a broad experience in the accounting area in his former role
as CFO. We believe he will represent a solid insight in the areas of finance and
accounting for the Company.
o Ms. Anita Huun, currently CFO in Gyldendal Publishing and a former CFO of
Microsoft Norway with background as equity analyst with focus on IT companies.
She has also been a Director at Link Mobility ASA.
o Mr. Endre Holen, who has more than 25 years consultancy experience from
McKinsey & Co. He has primarily worked with large international technology
companies and has been Managing Partner for McKinsey’s Global Tech Media and
Telecom team. Mr. Holen also has a broad experience and a wide professional
network from counseling Fortune 1000 CEOs on topics like strategy, corporate
performance, succession planning, leadership and Board governance.
o Mr. Øyvind Birkenes, currently the CEO at Airthings AS, and formerly General
Manager for Low Power RF at Texas Instruments (TI) in the USA, where he headed
the product lines that developed and sold ultra-low power wireless MCUs, radio
transceivers and System on Chips. TI has been one of NODs largest competitors in
the BLE space. Mr. Birkenes will bring extensive experience in technological
leadership and an in-depth knowledge of the RF low energy market.
o Ms. Annastiina Hinsta is the COO of Hinsta Performance in Finland, a company
focusing on enhancing the performance and leadership of client companies, best
known for working with Formula 1 teams. Ms. Hinsta also has experience from
McKinsey & Co. and from the Bank of Finland. She has broad expertise and will
enable the Board to see the Finnish angle, taking into consideration given that
a large number of the employees are located in Finland.
The Committee has held several meetings, conference calls and interviews as part
of the nomination process. The Committee has ensured that all shareholders and
others have had the opportunity to nominate Directors or to discuss candidates
with the Nomination Committee. Moreover, the Committee has emphasized that the
composition of the Board meets the Company’s need for expertise, capacity and
variety in an exciting growth phase.
The full recommendation from the Nomination Committee is attached.
For further information, please contact:
John Harald Henriksen, Chairman of the Nomination Committee
All enquiries should be directed through Nordic’s IR team;
Pål Elstad, CFO Nordic Semiconductor ASA Phone: +47 991 66 293
About Nordic Semiconductor
Nordic Semiconductor has been a pioneer in the field of ultra-low power wireless
solutions since 2002 and was one of the founding members of the Nokia initiative
which created the Bluetooth Low Energy standard. Today, Nordic Semiconductor is
by far the market leader within the ultra-low power wireless segment. Nordic
Semiconductor (NOD) is a public company listed on the Oslo stock exchange in
Norway.
For more information go to www.nordicsemi.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
http://www.netfonds.no/quotes/release.php?id=20190321.OBI.20190321S25
