Henning E. Jensen appointed CEO, Bruce E. Taylor appointed Chairman

The Board of Kongsberg Automotive ASA met on 10 June 2016.

Following discussions about the next steps for Kongsberg Automotive, CEO Hans Peter Havdal decided it was time to pass the leadership to the next CEO. Hans Peter Havdal has tendered his resignation, which has been accepted by the Board. The Board extends its sincere gratitude to Mr. Havdal for his many years of dedication and hard work for Kongsberg Automotive and wishes him the best of luck in his future endeavors.

The Board of Kongsberg Automotive ASA made the following decisions with immediate effect:

Chairman of the Board Henning E Jensen is appointed CEO of the company, and will consequently resign from the Board.

Mr. Jensen has spent fifteen years in the automotive industry in various leadership positions with General Motors, Delphi and TE Connectivity where he was Senior Vice President of the Automotive Division. More recently, Henning E Jensen was the CEO of RHI AG of Austria and Kistefos AS of Norway.

Board member Bruce E Taylor is appointed Chairman of the Board.

Mr. Taylor had a sixteen-year career at Eaton Corporation where he was Senior Vice President & Group Executive - Automotive. Subsequent to Eaton, he has been an equity partner in a private equity firm as well as the CEO of two PE backed industrial companies.

"In light of the need for accelerated change the Board looks forward to working with Henning E Jensen on taking the company to the next level and unlocking the potential of Kongsberg Automotive,” said Bruce E. Taylor, Chairman of the Board.