Telenor to restructure Group Management

Mr. Morten Karlsen Sørby is given the full responsibility for Telenor's activities in mobile and fixed communications in the Nordic region. "We now bring with us the experience we have gained from our renewed customer and market focus in Norway, and we will further simplify the organisation by concentrating on the Nordic market as a whole. This move will also allow us to further strengthen our focus on our international commitments, from which we currently derive half of our total revenues," said CEO Jon Fredrik Baksaas.

"The fact that Morten Karlsen Sørby will now be responsible for the entire Nordic region, will give me and the rest of the Group Management greater freedom to focus on current and future growth areas in our international mobile portfolio," said Baksaas.

"For our Nordic customers this involves an effort to build a joint Nordic product platform and joint service production," said the new head of Telenor Nordic, Morten Karlsen Sørby. "At the same time it is important to emphasize that although we are working to build one operation covering the whole Nordic region, we remain fully focused on serving three markets with strong local management and a strong customer focus. We will now concentrate all our efforts on consolidating Telenor's position and on developing our market position in the Nordic countries," said Karlsen Sørby.

Restructured Group Management

After the restructuring, Telenor's Group Management will consist of:

Chief Executive Officer Jon Fredrik Baksaas

Senior Vice Executive President and CFO Torstein Moland

Senior Vice Executive President and head of Telenor International Mobile, Arve Johansen

Executive Vice President and head of Telenor Nordic, Morten Karlsen Sørby

Executive Vice President and head of Telenor Broadcast, Stig Eide Sivertsen

Executive Vice President Jan Edvard Thygesen

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