Management changes at Kongsberg Seatex

Management changes at Kongsberg Seatex, Gard Ueland - left and Bjørn A. Fossum.

Pursuant to an agreement with the current Chair of the Board, Torfinn Kildal, President of Kongsberg Maritime AS, Bjørn A. Fossum took over as Chair of the Board of Kongsberg Seatex AS from 1 January 2007. In addition to chairing the boards of Kongsberg Seatex AS and SeaFlex AS, Mr. Fossum will perform strategic assignments for Kongsberg Maritime.

In accordance with his employment agreement, Bjørn A. Fossum had the option to leave his position as president of Kongsberg Seatex AS as of 31 December 2006, and he decided of his own volition to take advantage of that option.

Bjørn A. Fossum is one of the founders of Seatex AS and has been a key figure in the development of the company. He has been at the helm since 1994. Ever since its establishment, Kongsberg Seatex AS has seen profitable growth and today, the company is recognized as a world leader in maritime positioning and motion measurement. The Board is very pleased to have the opportunity to continue to take advantage of the expertise possessed by Bjørn A. Fossum in the further development of Kongsberg Seatex AS and Kongsberg Maritime.

Effective from 1 January 2007, Gard Ueland holds the position as President of Kongsberg Seatex AS. Gard Ueland has worked for the company since 1987, and prior to the change held the title 'Vice President, Development'.

Through his work on the new satellite-based navigation systems, including the Galileo system, Gard Ueland has gained extensive international experience and expertise in the company's target areas and represents continuity in the company's development.