Telenor Group?s Board of Directors has appointed Benedicte Schilbred Fasmer as the new CEO. Sigve Brekke is stepping down December 1st after more than 9 years as CEO of Telenor. Telenor?s Board of Directors has carried out an extensive process to identify the right candidate for the position of President & CEO, as Sigve Brekke, the current CEO, has a contract that stipulates retirement at the end of 2024.

The board started the process of finding Sigve?s successor this winter. As part of this thorough process, several strong internal and external candidates were considered. Benedicte Schilbred Fasmer is currently the CEO in SpareBank 1 SR-Bank, which is in the process of executing on the largest Norwegian banking merger in 25 years.

She has previously been a Group EVP of the insurance company Fremtind Forsikring and a Group EVP in DNB Bank as Head of Corporate Banking. In addition, she has significant capital markets experience including private equity, corporate finance and several banks including Citibank, as well as from the FMCG industry. Her board experience includes serving as the Chair of the Oslo Stock Exchange, a member of the Supervisory Board of the Central Bank of Norway, and being a board member of Vipps, Norway?s market-leading payment app.

Benedicte is from Bergen, is married and has two children. Sigve Brekke has been CEO of Telenor since August 2015. Since Sigve Brekke?s commencement date, Telenor has outperformed the S&P European Telecommunications index by 50% on a dividend-adjusted basis.

CV Benedicte Schilbred Fasmer: January 2021 - CEO in SR-Bank ASA; 2020 - GEVP in Fremtind Forsikring, Corporate Banking; 2015-2020 - GEVP in DNB Bank ASA, Corporate Banking; 2011-2015 - Argentum Asset Management; 2007-2011 - GEVP Sparebanken Vest, Capital Markets & Treasury; 2002-2007 - Rieber & Søn ASA, Group Treasury & Investor Relations; 2001-2002 - Pareto Securities ASA, Corporate Finance Advisor; 2000 - Nautopolis.com, Country Head Norway; 1991-2000 - Citibank, VP. Board Experience (selection): Has held the role of Chair in SpareBank 1 Gruppen, Fremtind Forsikring, Finance Norway, Oslo Stock Exchange. Board member in Vocalink Ltd, Norges Bank (Central Bank of Norway), Entra, Vipps, Norwegian Air Shuttle, Sevan Drilling, Vesta Forsikring, Fana Sparebank.