Stock Exchange Notice
Date: 12 November 2018

GC Rieber Shipping: New CEO, CFO and CCO appointed

The Board of GC Rieber Shipping today appointed acting Chief Executive Officer (CEO) Einar Ytredal to CEO on a permanent basis. Øystein Kvåle was at the same time named new Chief Financial Officer (CFO) and Christoffer Knudsen was promoted to Chief Commercial Officer (CCO). 

Einar Ytredal was appointed acting CEO in mid-September 2018. He has been with the company since 2007, first as Vice President Finance and then as CFO since September 2011. Before joining GC Rieber Shipping, Ytredal worked at Deloitte. He holds an MSc in Economics and Business Administration as well as an MSc in Accounting and Auditing.

Øystein Kvåle has been with GC Rieber AS since 2014 and served as acting CFO of GC Rieber Shipping ASA in 2016 and 2017. Mr. Kvåle worked for The Boston Consulting Group before joining GC Rieber. Kvåle holds a Master in Industrial Economics and Management from NTNU in Trondheim, Norway.  

Christoffer Knudsen comes from the position as Director of Chartering and Projects at GC Rieber Shipping and has been with the company since 2013. Prior to that he has experience from various positions within the Wilh. Wilhelmsen Group. Knudsen holds a degree in Maritime Business and Law from University of Plymouth, UK.

"We are very pleased to strengthen our management team with highly competent and experienced people who have extensive knowledge of GC Rieber Shipping's business", said Paul Chr. Rieber, Chairman of GC Rieber Shipping. "They will play an important part in developing our company in line with our long-term strategic ambitions." 

For further information, please contact:
Paul Chr. Rieber, Chairman, GC Rieber Shipping, phone:           +47 950 21 994
Einar Ytredal, CEO, GC Rieber Shipping, phone:                        +47 975 20 184

About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic. The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates and has direct and indirect ownership in 11 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments. The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.   

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