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Published on Wednesday, November 20, 2019

Norwegian names new CEO

Norwegian has appointed Jacob Schram as CEO, starting January 1.

Geir Karlsen will continue as CFO and deputy CEO.

Niels Smedegaard, chairman of the Board of Directors, said Schram had been chosen after a thorough search process.

"His extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase," he said.

"I look forward to working with Jacob Schram and the rest of the Norwegian management team. Together we will drive efficiency and continuous improvements to the benefit of our customers, shareholders and employees.

He also thanked CFO Geir Karlsen for his 'remarkable efforts' since Bjorn Kjos stepped down in July.

"During the last months, the company has taken a series of measures which has resulted in strong financial improvements. Profits in the company's third quarterly results were the highest ever and the company has also taken several actions to increase liquidity and reduce capital commitments.

"I am naturally very pleased with Geir's decision to focus entirely on his role as CFO. Geir will also continue as deputy CEO. With Jacob Schram and Geir Karlsen in the top management, we now have an outstanding team in place to take the company forward,"

Schram, 57,  previously held managing roles in Circle K,  McDonalds and McKinsey.

He is also the author of the book 'The Essence of business'.

"Norwegian has made aviation history and I am honored to take on the role as CEO," said Schram.

"The airline industry is characterized by strong competition and unforeseen events, but it is also an industry that is important to people everywhere

"I look forward to using my experience to build on the strong foundation laid down by Bjorn Kjos, Geir Karlsen and the rest of the talented and dedicated Norwegian team.

"Now, my main focus will be to bring the company back to profitability and fortify the company's position as a strong international player within the aviation industry."


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