Ole Jacob Sunde does not seek reelection as Schibsted Board Chair

Ole Jacob Sunde steps down as Schibsted Board Member and Board Chair, but will stay on as Board Chair of […]

Ole Jacob Sunde steps down as Schibsted Board Member and Board Chair, but will stay on as Board Chair of the Tinius Trust.

After two decades as Schibsted Board Chair, and 22 years’ tenure on Schibsted’s Board of Directors, Ole Jacob Sunde has decided to step down from the Schibsted Board at the end of the current Board term, ending at the upcoming Annual General Meeting, 4th May. He has accordingly informed the Nomination Committee that he will not stand for re-election.

During Sunde’s tenure, Schibsted has built on the values and legacy businesses from its news media heritage, developing strong digital brands in online marketplaces and digital consumer services as well as news media. During that same period, Schibsted has created and spun off the world’s largest online classifieds group in Adevinta, pioneered the transition from print to digital news media, increased its own market capitalization ten times, and grown an international footprint with a relationship with 1 billion consumers every month.

Two decades as Board Chair

“After two decades as Board Chair and even longer as a Board Member, I will look back at my tenure with fondness and satisfaction. We carried the legacy news media businesses into the digital age with significant success, we created huge value and growth through our bold positions in online marketplaces and digital services, and we crafted a new position for Schibsted as a solid, yet forward-leaning company. Moreover, I leave a company with a clear understanding of its responsibilities to and impact on society in all its undertakings, ” says Ole Jacob Sunde.

“Ole Jacob hands over a company that is many times stronger, more diverse and better positioned than it was when he took over as Chair. He has shown a clear sense of direction and has been a great inspiration and a steady coach for all of us who have had the privilege to work with him. Ole Jacob has been a significant and principled defender of both the values that we build on and the values we create. And for that, we thank him deeply,” says Kristin Skogen Lund, CEO of Schibsted.

The nominee for the new Board Chair will be made public in the invitation to the Annual General Meeting, which will be held on 4th May.

“I am confident that Schibsted is in the best of hands after the end of my tenure. The company has strong financial results, clear societal relevance and a renewed commitment to future growth and value creation, ” says Ole Jacob Sunde who will stay on as Board Chair for the Tinius Trust, owner of Blommenholm Industrier AS.

For further information, please contact:

Jann-Boje Meinecke, VP, Head of Investor Relations,

Tel: +47 941 00 835, e-mail: jbm@schibsted.com

Atle Lessum, Director of Schibsted Group Communications,

Tel: +47 415 05 645, e-mail: atle.lessum@schibsted.com