Tormod Hermansen steps down as CEO of Telenor
Fornebu
4 minute read
Tormod Hermansen, CEO of Telenor, has informed the Telenor board that he wishes to withdraw from his position by the end of June 2002. This is in accordance with the terms in his contract of employment. The board has complied with his wish, and intends to find a successor well before Tormod Hermansen's withdrawal.
Facts about Tormod Hermansen:
Tormod Hermansen was born in Botne in Vestfold on April 23, 1940. He was appointed CEO at Telenor, at the time known as Televerket, in the autumn of 1990 and took up the position in January 1991.
Hermansen holds a degree in economics from the University of Oslo (1964). In the years up to 1973 he held various positions within research and education, including work at Asplan, at the Institute of Transport Economics, at Agder University College and at the University of Bergen. From 1967 to 1970 he worked as researcher at the United Nations Research Institute for Social Development (UNIRISD) in Geneva.
From 1973 to 1991 Hermansen worked in public administration; initially as deputy director and deputy secretary at the Ministry of Social Affairs, and after 1980 as secretary general at the Ministry of Local Government and Labour. From 1986 to 1991 he was secretary general at the Ministry of Finance until he was appointed CEO of Televerket, now Telenor.
Tormod Hermansen has led numerous national committees and panels in areas such as public administration, government and leadership, social research and finance. He worked as parliamentary secretary in the Labour government of Oddvar Nordli in 1979. From 1992 to 1999 he was a member of the board of Statoil. Hermansen was chairman of the board of Postbanken from 1994 until 1999, when Postbanken was merged with the Norwegian bank DnB. Hermansen has been chairman of the board of the Government Bank Insurance Fund and he also sat on the board of the Government Bank Investment Fund during the banking crisis in the early 1990s. He has also been a member of the Swedish banking legislation committee. Today he is chairman of the board of the Norwegian State Investment Company, and he also sits as a member of the board of both DnB and Bravida.
Hermansen will remain available to Telenor one year from the time of his stepping down. After this he will be receiving normal retirement pension in accordance with the terms in his contract.
Tormod Hermansen was born in Botne in Vestfold on April 23, 1940. He was appointed CEO at Telenor, at the time known as Televerket, in the autumn of 1990 and took up the position in January 1991.
Hermansen holds a degree in economics from the University of Oslo (1964). In the years up to 1973 he held various positions within research and education, including work at Asplan, at the Institute of Transport Economics, at Agder University College and at the University of Bergen. From 1967 to 1970 he worked as researcher at the United Nations Research Institute for Social Development (UNIRISD) in Geneva.
From 1973 to 1991 Hermansen worked in public administration; initially as deputy director and deputy secretary at the Ministry of Social Affairs, and after 1980 as secretary general at the Ministry of Local Government and Labour. From 1986 to 1991 he was secretary general at the Ministry of Finance until he was appointed CEO of Televerket, now Telenor.
Tormod Hermansen has led numerous national committees and panels in areas such as public administration, government and leadership, social research and finance. He worked as parliamentary secretary in the Labour government of Oddvar Nordli in 1979. From 1992 to 1999 he was a member of the board of Statoil. Hermansen was chairman of the board of Postbanken from 1994 until 1999, when Postbanken was merged with the Norwegian bank DnB. Hermansen has been chairman of the board of the Government Bank Insurance Fund and he also sat on the board of the Government Bank Investment Fund during the banking crisis in the early 1990s. He has also been a member of the Swedish banking legislation committee. Today he is chairman of the board of the Norwegian State Investment Company, and he also sits as a member of the board of both DnB and Bravida.
Hermansen will remain available to Telenor one year from the time of his stepping down. After this he will be receiving normal retirement pension in accordance with the terms in his contract.