Akastor investment manager to take on CFO role next year

Norway’s oil-services investment company Akastor has named a new chief financial officer of the company.

Akastor said on Friday that its investment manager Øyvind Paaske was promoted to the CFO role, effective from March 1, 2020.

He replaces Leif H. Borge, who will remain in the position up to this date, after which he will assume a new position in a company outside the Aker group.

Paaske joined the investment team in Akastor in 2014. Before this, he held the position as Investment Manager in Aker ASA.

Akastor CEO Karl Erik Kjelstad said: “I am very pleased that Øyvind has accepted the CFO position. During his time at Akastor, he has played an important role in executing our M&A projects and has gained considerable knowledge of all our portfolio companies, in particular, MHWirth.

“I have had the pleasure of working closely with Leif for more than 17 years, from when he started his career in the Aker group as CFO in Aker Yards in 2002, thereafter as CFO in Aker Solutions from 2008 and finally as CFO and Investment Director in Akastor since its incorporation in 2014. Leif has throughout this been a highly valuable team member, and we sincerely thank him for his strong contributions and wish him all the best and success in his new position.”

Regarding his appointment, Paaske stated: “I am excited to take on the CFO role in Akastor. I very much look forward to contributing in my new position, with a focus on developing and realizing the values in Akastor’s portfolio.”

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