ENDÚR ASA 6 January 2021 - To reflect that Endúr ASA is transitioning from a restructuring and re-building period into an ambitious growth and consolidation phase, the board of directors has appointed a new CEO to lead the marine services group forward. A new CFO has also been appointed. Hans Olav Storkås has been appointed CEO of Endúr ASA, while Lasse B. Kjelsås has agreed to take on the role as CFO of the group. They succeed CEO Hans Petter Eikeland and CFO Nils Hoff, respectively. 'Hans Petter and Nils are highly skilled at restructuring businesses and have done a commendable job in consolidating and turning around the group following the merger between Bergen Group and Endúr Fabricom in 2019. Endúr has now moved into an aggressive growth phase, driven by an accretive M&A strategy that increasingly targets project-based industry segments such as marine infrastructure and onshore aquaculture. Hans Petter, Nils and the board therefore agree that now is the right time to bring a different management skillset on board to fully realise the opportunities we see going forward,' says Øivind Horpestad, chairman of Endúr ASA. Newly appointed CEO Hans Olav Storkås is a highly experienced manager of construction and project management organisations. He recently held the role as managing director of NRC Group's Norwegian operation, which grew from revenues of NOK 1.2 to 2.0 billion in the 2.5 years he headed up the business. Prior to this, Storkås held senior management roles with AF Gruppen and co-founded Risa Rock AS which was subsequently sold to Lemminkäinen Norge (now YIT). He is a civil engineering graduate from Norwegian Institute of Science and Technology, the University of Trondheim. Storkås joins Endúr with immediate effect. In June this year, Endúr announced an ambition of building the leading marine services provider in Norway within 2022, targeting NOK 2-2.5 billion in revenues and EBITDA-margins in the range of 10-12 percent. Since then, Endúr has merged with marine infrastructure company Oceano AS and acquired BMO Entreprenør AS, a market leader within maintenance of critical marine infrastructure such as quays, harbours, dams and bridges. 'We expect to make additional acquisitions in the coming months, further strengthening Endúr's focus on the project-based nature of marine infrastructure and the aquaculture supply industry. The board of directors believes Hans Olav's extensive experience from successfully building and integrating project management organisations, coupled with Lasse's finance and aquaculture expertise, is the right team to lead this development,' adds Øivind Horpestad. Lasse B. Kjelsås is a highly experienced CFO and former investment banker. His latest roles have been as CFO for Atlantica Tender Drilling Ltd and CFO of Aker Clean Carbon AS. Prior to this he was a director and partner at First Securities ASA, where he spent more than a decade within corporate finance with primary focus on the aquaculture sector. Kjelsås holds master's degrees from London Business School and the Norwegian School of Economics and Business Administration (NHH). He joins Endúr with immediate effect. ENDS For further information, please contact: Øivind Horpestad, chairman of Endúr, tel: +47 910 00 626 Hans Olav Storkås, CEO of Endúr, tel: +47 901 22 744 Hans Petter Eikeland, former CEO of Endúr, tel: +47 932 08 177
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Endur ASA published this content on 06 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2021 07:35:04 UTC
