"Endre Rangnes' extensive experience and achievements from his time with IBM demonstrate that he has skills and qualities of great value for the future development of EDB Business Partner in line with the strategy we have now established. He will bring a fresh view to the task of steering the group through the changes that lie ahead, and he clearly has the determination and ability to manage and implement change that are essential for the group's future success", explains Bjarne Aamodt.

 

Endre Rangnes is currently Managing Director of IBM Norway, and has held this position since 1999. He has worked for IBM since 1984, and has held a number of senior positions in the company, including postings in Paris and Stockholm. Endre Rangnes is the chairman of the board of the trade association ICT Norway, and is a member of the Norwegian government's consultative committee for ICT issues.

 

"EDB Business Partner has a fantastic basis for success. The group's core activities are profitable, it has strong expertise and it operates in an area of the market that will continue to enjoy growth over the coming years, not least in terms of IT operations and outsourcing assignments for major customers", comments Endre Rangnes, CEO designate.

 

Endre Rangnes will receive an annual salary of NOK 2.5 million at EDB Business Partner, with other terms and conditions in line with his previous position. In addition he will be entitled to compensation from EDB Business Partner on a successive basis for the loss of benefits accrued during his employment with IBM. Mr Rangnes will also be entitled to a share option agreement linked to the performance of the company's share price.

 

"The Board would also like to express its appreciation to John-Arne Haugerud for his contribution to the group during his period as acting CEO. The Board is extremely pleased that Mr Haugerud will resume his position as EVP responsible for the Computer Operating Services business area and Managing Director of EDB Teamco once Mr Rangnes takes up his position", adds Mr Aamodt.

 

"I know Endre Rangnes very well, and look forward to working closely with him. Endre Rangnes will bring an increased focus to EDB and important expertise, not least in the marketing area. This will be very valuable for EDB Business Partner", comments John-Arne Haugerud.

 

"EDB Business Partner now has a strong executive management team, a strong market position, sound technical expertise and a healthy financial situation. This represents a strong basis for the group's future development", concludes Bjarne Aamodt, Chairman of the Board.