PRESS RELEASE, BERGEN, 26 SEPTEMBER 2022

Åsmund Bjørndal Heen will be the new CEO for the Frydenbø Group.

Image: Åsmund Bjørndal Heen. Photo: Trude Brun Wilhelmsen

Very satisfied owner and chairman

- We have left behind some challenging but positive and evolving years. Teamwork and culture building have been important elements. Åsmund has been a very important contributor to our journey of change over the past four years, as CFO for the Group and not least as my closest sparring partner. I have had this plan brewing for quite a while and am now very pleased that Åsmund has agreed to lead the Frydenbø Group further!" said Knut Herman Gjøvaag, CEO and owner of Frydenbø Group.

Åsmund Bjørndal Heen will step into the role during Q4 of 2022.

- We cooperate very well! Åsmund is 'the real thing' and has proven his solid professionally, business wisdom and personality. He is also very liked among employees and partners, so I have no doubt that this is right choice for Frydenbø, Gjøvaag continues.

Knut Herman Gjøvaag stepped in as CEO for Frydenbø Holding in 1993, after a generational change, and after a five-year break he rejoined the Frydenbø Group in 2019. The last few years have been characterised by Covid and international unrest, at the same time as strategy and focus areas have been clarified and the financial development in the Group has been very positive.

From CFO to CEO

Åsmund Bjørndal Heen started as CFO on 1 October 2018. Åsmund has broad finance and investment experience, and came from the role as Head of Treasury in Sparebanken Vest where he had held several different roles for twelve years. He holds several board positions, including chairman of Sarsia Seed and board member of Investinor. Åsmund has also been acting CEO for Frydenbø Industri for a time.

- We will continue with what we are good at while developing the Group further. I look forward to continuing the journey together with Knut Herman and each and every one of the talented employees in the Group. I look forward to the continuation of Team Frydenbø! said Åsmund Bjørndal Heen, incoming CEO for the Frydenbø Group.

ABOUT THE COMPANY:
Frydenbø® Group is a family-owned group consisting of five business areas; automobile, marine, real estate, industry and NXT. The Group employs just under 900 people and is headquartered in Damsgård, Bergen. Turnover in 2021 was 3.5 billion kroner.

For questions related to the information provided above, please contact Communications Director for Frydenbø Group, Silje Ulla-Zahl, Tel +47 928 35 966, or suz@frydenbo.no.