Kjetil R. Krøkje (43) has been appointed as the new Chief Financial Officer (CFO) of Storebrand Group. Outgoing CFO Lars Aa. Løddesøl will step down following nearly 25 years as part of Storebrand's executive management, the last 14 years as CFO.

"I would like to thank Lars for his many years of service in Storebrand's management team. Over a long period, he has been an important contributor to Storebrand's strategic transformation into a capital-efficient Nordic savings and insurance group with strong growth and a solid balance sheet. Lars is a true team player and has been instrumental in taking Storebrand to where we are as a company today," says CEO Odd Arild Grefstad.

"The timing of this transition is deliberate. Lars and I agree that the executive management team presenting at the Capital Markets Day on 10 December should also be the team to deliver on the plan, so we felt this was the right time," says Odd Arild Grefstad.

"After almost 25 years in Storebrand's executive management, the time has come to pass on the baton. We are on a fantastic journey, and it is extremely satisfying to see that the group has never been more robust or grown faster, reflected in the positive share price development. However, what I value most from these years is the culture and the people - in this respect, Storebrand is truly unique," says Lars Aa. Løddesøl.

Løddesøl will remain at Storebrand, serving as Chairman of the Board in Storebrand Forsikring, board member in Storebrand Asset Management, and to help ensure continuity during the transition.

"I am very pleased to welcome Kjetil R. Krøkje to the executive management team. Recruiting internally demonstrates the strength of our organisation and ensures both continuity and renewal. Kjetil has worked closely with Lars and the rest of the management team on the strategic transformation of Storebrand for several years. He has a deep understanding of the company, our customers, and the market, and will help develop Storebrand further," says Grefstad.

Krøkje will assume the role on 17 September.

"I am grateful for the trust placed in me and look forward to taking on the responsibility. Storebrand has a strong market position, and together with talented colleagues and leaders, we will continue to develop the company. Our ambition remains to achieve capital-efficient growth, combined with increasing capital distribution, which together will generate solid value creation for our shareholders. I would also like to thank Lars for our close collaboration over more than a decade. I am pleased that he will remain with the group to ensure a smooth and orderly CFO transition," says Kjetil R. Krøkje, incoming CFO of Storebrand.

Storebrand's new CFO and member of the executive management team comes from the role of Group Head of Strategy, Finance and M&A in Storebrand ASA. He has been responsible for the group's financing, capital structure, group strategy, M&A, and investor relations. Krøkje has held several leadership roles in Storebrand since 2008 and serves on several of the group's boards. He holds an MSc from the London School of Economics and an MBA from NHH, and has a background from the Telemark Battalion in the Norwegian Armed Forces.

Contact persons:
Kjetil R. Krøkje, Incoming Group CFO: kjetil.r.krokje@storebrand.no, tel. (+47) 934 12 155
Lars Aa. Løddesøl, Outgoing Group CFO: lars.aa.loddesol@storebrand.no, tel. (+47) 934 80 151
Johannes Narum, Head of Investor Relations: johannes.narum@storebrand.no, tel. (+47) 993 33 569
Stig-Øyvind Blystad, Head of Communications: stig-oyvind.blystad@storebrand.no, tel. (+47) 918 47 226
 

Roadshows and conference activities:
5 September: Nordea Nordic Insurance Trip (Grefstad/Krøkje)
9 September: SEB Insurance mid-quarter update (Løddesøl/Narum)
10 September: Autumn Conference Kepler Cheuvreux (Løddesøl/Krøkje)
16 September: Annual Financials CEO Conference Bank of America (Løddesøl & Krøkje/Narum)
20 November: European Financials Conference J.P. Morgan (Krøkje/Narum)

About Storebrand

Storebrand is a Nordic financial group, delivering increased security and financial wellness for people and companies. We offer sustainable solutions and encourage our customers to take good economic decisions for the future. Our purpose is clear: we create a brighter future. Storebrand has about 55.000 corporate customers, 2.2 million individual customers and manages NOK 1,507 billion.
The Group has its headquarter at Lysaker outside of Oslo, Norway. Storebrand (STB) is listed on Oslo Stock Exchange.

This information is subject to the disclosure requirements according to Oslo Rule Book II.