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Norske Skog CEO Rynning-Tonnesen Resigns, to Head Statkraft

Nov. 12, 2009 - Norske Skog's CEO, Christian Rynning-Tonnesen, told the company's board of directors that he will resign his position and will be taking the CEO post at Statkraft, a Norwegian state-owned power company, on June 1, 2010.

Rynning-Tonnesen will continue to serve as CEO of Norske Skog for an undisclosed period of time.

Eivind Reiten, chairman of the Board, stated, "I regret that Christian Rynning-Tonnesen will be leaving Norske Skog. He has made an outstanding effort as CEO in what has been a very demanding period for the group.

"The Board will meet shortly to begin the process of recruiting his successor," Reiten said.

Rynning-Tonnesen joined Norske Skog in early-2005 as CFO and was appointed CEO in June 2006.

"I have had an exciting period with Norske Skog, working with a competent and tenacious organisation that has worked hard to strengthen the company in a difficult market," said Rynning-Tonnesen. "Key challenges remain, and it will be difficult to leave the company.

"I have nevertheless accepted what for me is a unique opportunity to lead Statkraft, a company I was part of for 13 years before joining Norske Skog," he added.

SOURCE: Norske Skog




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