Leadership Transition at Borregaard ASA Marking New Era Ahead
Leadership Transition at Borregaard ASA
Borregaard ASA announces a significant leadership change as Tom Erik Foss-Jacobsen has been appointed the new CEO. He is set to take over the role from Per A. Sørlie, who has dedicated 26 years to this position and will retire at the end of September 2025.
Tom Erik Foss-Jacobsen's Vision as CEO
Tom Erik Foss-Jacobsen comes into this role with a wealth of experience. Having served as the Executive Vice President and head of BioSolutions since 2019, he brings an extensive background in Borregaard's operations. With a master’s degree in international marketing and strategy, as well as a bachelor’s degree in civil engineering, he possesses over 25 years of experience at Borregaard, including 21 years in various leadership capacities.
A Commitment to Sustainable Growth
In his new role, Foss-Jacobsen expressed his excitement and determination to leverage his comprehensive understanding of the organization. He stated, “I’m proud of how Borregaard’s highly competent organization has continuously advanced our specialization strategy by growing high-value business, driving diversification, and delivering solid results.” His commitment to creating value for stakeholders will drive the company's future endeavors.
A Legacy of Leadership
Per A. Sørlie leaves a remarkable legacy at Borregaard ASA. Having worked with the company for 35 years, his impact is profound. He has played a crucial role in transforming Borregaard into a leading bio-based specialty chemicals company. Under his stewardship, the company has significantly increased profit growth and enhanced shareholder value since its listing on the Oslo Stock Exchange in 2012.
Fostering Development and Culture
Sørlie's leadership was characterized by a focus on fostering a strong commercial culture and developing future leaders. The Board has recognized his invaluable contributions, marking his tenure as a pivotal time for Borregaard. As Sørlie steps down, the continuity of growth strategies will remain essential for Foss-Jacobsen to uphold and advance.
Looking Forward with Confidence
The Board of Directors is optimistic about the appointment of Foss-Jacobsen. Helge Aasen, chair of the Board, remarked on the leadership qualities that Foss-Jacobsen will bring to the table. “We are confident that he has the qualities necessary to further develop the company in the years to come,” Aasen stated, emphasizing the foundation laid by Sørlie that Foss-Jacobsen will build upon.
Future Incentives and Growth Plans
As per the company’s remuneration policy for long-term incentive schemes, stock options will be granted to Foss-Jacobsen starting on August 1. This aligns with Borregaard's strategic goals for long-term profitability and sustainable growth.
Contacts for Media Inquiries
For further information, media representatives can reach out to:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
Director Communications, Tone Horvei Bredal, +47 924 67 711
Frequently Asked Questions
Who is the new CEO of Borregaard ASA?
Tom Erik Foss-Jacobsen has been appointed as the new CEO of Borregaard ASA.
When does Tom Erik Foss-Jacobsen officially take over as CEO?
He will officially take over on August 1, 2025.
What role did Tom Erik Foss-Jacobsen hold before becoming CEO?
He was the Executive Vice President and head of BioSolutions at Borregaard.
What significant changes occurred under Per A. Sørlie's leadership?
Under Sørlie's leadership, Borregaard transformed into a leading bio-based specialty chemicals company, significantly enhancing profit growth.
How long did Per A. Sørlie serve as CEO?
Per A. Sørlie served as CEO for 26 years and worked at Borregaard for a total of 35 years.
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