Norway: TTS Group’s CFO Resigns

Mr. Arild Apelthun resigns as CFO of the TTS Group ASA in order to accept an executive position in another company.

Mr. Henrik Solberg-Johansen, TTS’ Vice President of Group Accounting and Control, will serve as interim CFO while the search for a permanent replacement is conducted.

Arild Apelthun has served as CFO of TTS since April 2010, and resigns in order to accept the position as CFO at Beerenberg. Apelthun will remain at TTS until the 4(th) quarter of 2014 to assist in finalizing certain tasks and ensure continuity on financial and accounting issues.

“We appreciate Apelthun’s dedication and service to TTS for the past four years and wish him all the best in his future endeavours. We also appreciate that he has agreed to stay on until the autumn to make the transition process as smooth as possible,” says Björn Andersson, CEO of the TTS Group ASA.

TTS will immediately initiate a search for Apelthun’s permanent replacement and expects to announce a succession plan before long. TTS’ Vice President of Group Accounting and Control, Henrik Solberg-Johansen, will assume the responsibilities of interim CFO with effect from 1 July.

Solberg-Johansen has been with TTS since August 2013 and is a highly experienced executive with strong finance and operational expertise, including seven years as partner of the Norwegian branch of the globally leading consultancy and  audit firm EY (former Ernst & Young). He is a Master of Science in Business Administration and a State Authorized Public Accountant.

Press Release, June 27, 2014