Otello CEO,Lars Boilesen has in an agreement with the Board of Directors decided to transition into an advisor role in Otello effective 31.December 2023 . Lars has served Opera and Otello for over 20 years, first as head of sales, later as a Board member and ultimately as CEO from 2010. During his tenure he has taken the company from an obscure browser company into a global powerhouse with 400 million users and billion dollar valuation both through aggressive organic growth as well opportunistic acquisitions. This growth and pivot ultimately led to the sale of Opera for$600m ,AdColony for$400m , OperaTV for$120m , SurfEasy for$40m and the listing ofBemobi with a market cap of over$400m . "Lars has been an invaluable asset for Opera, and Otello and has during his reign created vast shareholder values. I support Lars in his decision and acknowledge that the timing of him move into an advisor role makes sense. In his new role, Lars will continue to support Otello's ownership inBemobi , where he will remain the chairman as we continue to maximize the value of our asset on behalf of our shareholders," says Chairman of the board, Andrè Christensen. As a result of multiple divestures in addition to the IPO ofBemobi , Otello is now a very different company with a single asset on hand, its 38% holding inBemobi . This new setup caters for a different stewardship from its management.Jason Hoida , Otello´s General Counsel, will take over as CEO upon Lars´ transition. Jason has been an integral part of Otello´s leadership since 2009 and has worked closely with Lars on all aspects of the business including all major transactions. "We are very fortunate to have someone of Jason's caliber on our roster and able to take over the baton. Jason and Lars have worked together for over a decade, and I am confident that they also in their new respective roles will continue to drive shareholder value." Says Christensen. "My journey with Opera and Otello has truly been amazing and I have been fortunate to take part in a growth story unique toNorway . The success we have achieved against all odds is a result of dedicated employees, in combination with the unrelenting support from our Board of Directors and key shareholders. As we move to the next phase it gives me great pleasure to hand the CEO role over to my friend and colleagueJason Hoida , which has been instrumental in the success we have achieved as a company. I will also do my outmost to support him from my new role as advisor," saysLars Boilesen , CEO.Lars Boilesen | Chief Executive OfficerOtello Corporation ASA larsb@otellocorp.com Mobile +47 4040 1460
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