New Board Member at the Tinius Trust

Jaan Ivar Semlitsch has been appointed as a new board member at the Tinius Trust: "A very meaningful and motivating task."

Jaan Ivar Semlitsch succeeded John A. Rein, a board member of the Tinius Trust since its establishment in 1996. Rein stepped down due to the age limit last autumn.

Semlitsch is the CEO of Komplett Group and a former CEO of Orkla and Elkjøp Nordic. He is also the chairman of the board for the bookstore chain Norli, holds a degree in business economics, and has a background from McKinsey.

"Schibsted and the Tinius Trust have a long history and significant impact in Norway and Sweden. Being able to manage ownership with a skilled team is inspiring and important," says Semlitsch about why he accepted the role when approached.

"I believe that the Tinius Trust's mission is more relevant than ever in a world filled with uncertainty, noise, polarization, and conflicts. Having independent voices supported by a long-term owner with resources is important and, in many ways, crucial for healthy and positive societal development. The Trust's statutes are also clear about the mandate, ensuring long-term focus, quality, and predictability."

In December, it was announced that the Tinius Trust had made a bid for the media division of Schibsted ASA. The general assembly must approve a division of the company. The Trust and Schibsted ASA have agreed on the main points of a potential deal. Semlitsch joins the board of the Trust while the details of the acquisition are being finalized:

"The media industry faces many challenges but also opportunities in the future. Schibsted is well-positioned in this landscape. The world is moving faster than ever, and it is always essential to stay ahead and react quickly. I have followed the industry for many years as a reader, advertiser, and advisor. I aim to contribute to the discussions about threats and opportunities, and most importantly, solutions," he says.

"Jaan Ivar Semlitsch has extensive experience managing large corporations in Norway and abroad. He also understands the advertising market from the user's perspective. Both aspects are important contributions to complement and further develop the ownership competence in the Tinius Trust," says chairman Ole Jacob Sunde.