Oslo, Norway, August 23, 2021 - The Board of Directors (The Board) of Pexip Holding ASA ("Pexip" or "The Company", Oslo Børs Ticker: PEXIP) has today appointed the Company's CFO, Øystein Hem, as interim CEO. Pexip's current CEO, Odd Sverre Østlie, will leave the company, but will be available at the Company's discretion for a period to come.  

"Odd Sverre Østlie has led the Company through a merger and significant growth, headed the highly successful IPO in 2020, and expanded an already great team with lots of new talent," said Michel Sagen, Chair of the Board of Pexip, and continued, "The rapid growth of Pexip will fundamentally change the Company over the coming years. The Board and Odd Sverre are aligned with regards to Pexip's strategy but have different views on the approach going forward. Thus, the Board and Odd Sverre have agreed that the timing is right for a new CEO. The Board would like to thank Odd Sverre for the great results and wish him the best of luck in future endeavors".  

"It has been a privilege to lead Pexip over the past years. We have built an exceptional technology platform, earning us the trust of some of the world's largest enterprise and government organizations. At the same time, we have built an excellent, global team with a culture that is unique in the industry, and I am confident that the team will continue to drive further success. In short, I remain extremely confident in Pexip's future and wish the team the best of luck," said Mr.Østlie.  

The Pexip Board will now initiate a succession process. Meanwhile, CFO Øystein Hem has agreed to take on the role of interim CEO with immediate effect. Mr. Hem joined Pexip in 2018. He has extensive management and industry experience from Telenor and McKinsey.  

"The Board is pleased that Øystein has accepted the interim CEO position. He has already demonstrated outstanding performance as CFO. Øystein and the management team have the drive and skills to propel the company forward - both along the outlined strategic trajectory and towards the ARR target of USD 300 million by the end of 2024," concluded Mr. Sagen. 

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.  

 

Contact:  


 

Michel Sagen, Chair of the Board, +47 982 90 071  

Øystein Hem, Interim CEO, +47 992 34 596  

Odd Sverre Østlie, +47 415 21 580  

Mirza Koristovic, Director Investor Relations, IR@pexip.com, +47 93 87 05 25

About Pexip | pexip.com

Pexip simplifies complex videoconferencing to empower organizations with face-to-face collaboration, no matter the location or technology. Our scalable platform enables high-quality video meetings, with enterprise-grade security, and is easily adapted to fit customers' IT requirements and existing infrastructure. This makes Pexip the leading provider for  large enterprises and public sector organizations. The solution is sold through 300 channel partners in 75 countries and used in more than 190 countries. Pexip was listed on the Oslo Børs in May 2020.

https://news.cision.com/pexip-as/r/change-of-ceo-at-pexip,c3401604

(c) 2021 Cision. All rights reserved., source Press Releases - English