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KONGSBERG makes organisational adjustments

As from 1 January 2009, KONGSBERG will be making some organisational adjustments. A new business area will be created for weapon control systems and the Group will be strengthening its activities in the oil and gas market.

The business area for weapon control systems, Kongsberg Protech Systems, will be headed by Egil Haugsdal. Under the direction of Harald Ånnestad, the other parts of Kongsberg Defence & Aerospace will continue as a separate business area under the name Kongsberg Defence Systems.

President Tom Gerhardsen, Kongsberg Defence & Aerospace, will be moving into a newly created position where he will have responsibility for the Group's compliance processes. He will be taking advantage of the clause in his management employment contract regarding duties after the age of 60. Nils Standal will head the activities aimed at the oil and gas market. Financially, oil and gas activities will be organised under Kongsberg Maritime, which will continue to be headed by Torfinn Kildal.

"KONGSBERG has shown good progress and growth in recent years. The Group now serves more customer groups than ever before and works in a number of new markets. We wish to establish the best possible platform for further development of this progress and growth. For that reason, some changes are being made in the organisation and executive management. These changes will allow us to further develop the Group in a proactive manner, and they are based on a long-term perspective", explains CEO Walter Qvam.

As from 1 January, KONGSBERG's Corporate Management will consist of: CEO Walter Qvam, CFO Arne Solberg, and EVPs Torfinn Kildal, Harald Ånnestad, Egil Haugsdal, Stig Trondvold and Even Aas.

Ellen Raaholt will be leaving the Corporate Management to head Human Resources in the newly established business area Kongsberg Protech Systems.

Even Aas will continue on the Corporate Management as EVP for Public Affairs, while Corporate Communications will be merged with Investor Relations under the direction of Jan Erik Hoff.