B2Holding : Erik J. Johnsen appointed permanent CEO of B2Holding ASA

Erik J. Johnsen appointed permanent CEO of B2Holding ASA

B2Holding ASA's Board of Directors today announces that Erik Just Johnsen has been appointed as CEO of the Company. Johnsen has been acting as CEO since 15 August 2019 and assumes the role with immediate effect. 'On behalf of the board, I am very pleased that Erik has accepted to take on the role as CEO of B2Holding ASA. Johnsen's extensive management experience and industry knowledge, combined with his visionary and strategic leadership approach and strong financial focus makes Johnsen the perfect candidate to lead the Company in a transformation phase,' says B2Holding ASA's Chairman of the Board, Jon Harald Nordbrekken. Johnsen (58) has been with B2Holding ASA for seven years. First as Chief Group Controller, and then the last three years as Chief Financial Officer, and has been integral in building up the financial structure of the company. 'Johnsen has been instrumental in building this Company from 2013 to becoming a listed company with approximately 2,500 employees and total assets of NOK 17 billion. Johnsen will lead the Company into a new phase, with continued focus on value creation for shareholders and profitable growth by developing and strengthening our servicing platforms', says Nordbrekken. 'I am honoured to take on the role as CEO and lead the company into the next phase. Since I started in B2Holding, the Company has grown from being a small industry challenger to becoming one of the leading players in Europe. Now, we are preparing the Company for a strategy going forward where we will focus on fewer and stronger platforms resulting in a more cost-efficient model. Furthermore, we will leverage our servicing capabilities by increasing assets under management. This will allow us to grow without relying solely on own funding and ensure even better utilization of our platforms through economies of scale, and increase our investment capacity', says Erik J. Johnsen, CEO of B2Holding. The Board of Directors has been supported by an executive search company in the process leading up to today´s decision to appoint Johnsen as the CEO. A unanimous Board stands behind the decision. In accordance with the Reward Policy and authorisation granted by the Annual General Meeting on 24 May 2019, the Board of Directors has awarded CEO Erik J. Johnsen 2,100,000 options under the Long-Term Incentive Program. Each option gives the right to acquire one share in the Company. Pursuant to the vesting schedule, 1/3 of the options will vest one, two and three years after 25 June 2020. The strike price for the options is NOK 8.726 which is equal to the volume weighted average trading prices for the Company's shares on Oslo Stock Exchange the 20 last trading dates prior to the grant date (4 February 2020). The strike price will be increased by 7 per cent per year from the first vesting date until the options are exercised. Following the grant, CEO Erik J. Johnsen and related parties hold 1,910,000 shares and 2,370,000 options in the Company. For further information, please contact: Jon Harald Nordbrekken, Chairman of the Board in B2Holding ASA Telephone: [phone] Email: [e-mail] This information is subject of the disclosure requirements according to sections 4-2 and 5-12 of the Norwegian Securities Trading Act. B2Holding Group B2Holding ASA is a Nordic based debt solutions provider with platforms in over 20 European countries. B2Holding has experienced significant growth since its inception in 2011 and has established itself as one of the leading European debt purchasers and a solution-oriented partner within the debt servicing industry. The Group employs approximately 2,500 people. B2Holding ASA is headquartered in Oslo, Norway and the B2Holding share is listed on the Oslo Stock Exchange under ticker 'B2H'. For further information, please visit www.b2holding.no.