Following years of strong growth in Hofseth International AS ("Hofseth International") and the expected further positive development in Hofseth BioCare ASA's ("HBC") revenues and sales activities, it has been decided to strengthen management focus in both companies. Roger Hofseth will therefore continue to serve as CEO of Hofseth International but has decided to step back as CEO of HBC and change his involvement in the company to a director of the Board, as the nomination committee has asked the General Assembly to appoint him. Jon Olav Ødegård, Chief Financial Officer will, with effect from 1 August, assume the role of CEO.

Ødegård has over nine years of executive experience in the biotechnology industry. Before joining Hofseth BioCare in 2013, Ødegård was a Managing Director in Sparebank 1 Finans. Previously, he has held executive positions in Banking and Advisory services.

Further he holds several board positions within the Group of companies that Hofseth BioCare is a part of and externally in companies such as Aqua Bio Technology ASA.