Vow ASA's Leadership Transition: New CEO Search Begins Now

Vow ASA Begins the Journey for New Leadership

The Board of Directors of Vow ASA (OSE ticker: VOW) has taken a significant step by initiating the search for a new CEO. Current CEO Henrik Badin will remain in his role until February, allowing ample time for a seamless leadership transition, with his availability extending until the end of June to ensure stability during this period.

Strategic Shift in Leadership

Following a thorough financial restructuring, the Board believes that this is the opportune moment to introduce new leadership. The goal is to guide the company as it embarks on its next chapter of growth. The process for finding a new CEO is set to commence immediately, reflecting Vow's commitment to its future.

Executive Remarks on Growth Vision

Thomas Borgen, the Chair of the Board, expressed confidence in the company's direction, stating, "Vow is a market leader in delivering environmental technology, particularly within the cruise industry. Our solid business in heat solutions and ongoing projects in onshore industry positions us favorably in the market. With our enhanced financial footing, we are primed to assist our clients in reaching their sustainability goals, which is more vital than ever in today's climate-conscious landscape."

Appreciating Leadership Legacy

The Board has also shared its heartfelt gratitude toward Henrik Badin for his 18 years of unwavering leadership. Borgen noted, "Henrik has been instrumental in Vow's growth, and we are thankful for his commitment to ensuring a smooth transition to the new CEO.”

Henrik Badin's Commitment to Vow's Future

Henrik Badin himself reflected on the changes saying, "It has been a privilege to witness Vow's growth and flourishing. I remain deeply dedicated to the company’s ongoing success. With our strong team and proven technology, Vow stands well-prepared for the future. I will support the transition effort in every possible way during this time.”

Vow ASA's Innovative Solutions

Vow and its subsidiaries, including Scanship, C.H. Evensen, and Etia, are dedicated to combating pollution and enhancing sustainability. The company specializes in transforming biomass and waste into valuable resources while generating clean energy across various industries.

Commitment to Decarbonization

The advanced technologies developed by Vow not only support decarbonization but also facilitate recycling of materials. Their processes allow for biomass, sewage sludge, plastic waste, and even end-of-life tyres to be converted into clean energy and low carbon fuels, thereby reducing reliance on fossil fuels. These scalable and patented solutions are thoroughly documented, and Vow’s track record of delivery is robust.

Leading Market Position

Vow holds a prominent position in the cruise industry, particularly in wastewater purification and waste valorization. The company is also well-placed within niche markets that prioritize food safety and managing heat-intensive industries with a strong decarbonizing agenda.

Contact Information for Further Inquiries

For more information, stakeholders and interested parties are encouraged to reach out:

Thomas F. Borgen, Chairman of the Board, Vow ASA
Tel: +47 922 19 641
Email: thomas.f.borgen@bi.no

Henrik Badin, CEO, Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com

Frequently Asked Questions

What prompted Vow ASA to search for a new CEO?

The decision follows a comprehensive financial restructuring that creates the need for new leadership to guide future growth.

When will the current CEO leave his position?

Henrik Badin will continue to serve as CEO until February, with his assistance extending until the end of June to ensure a smooth transition.

What are Vow ASA's key business areas?

Vow ASA is focused on environmental technology, offering solutions in wastewater purification, heat management, and waste valorization.

Who can be contacted for more information about Vow ASA?

Contact Thomas F. Borgen or Henrik Badin for inquiries regarding the company.

What is the vision for Vow ASA moving forward?

Vow ASA aims to strengthen its position in the market and continue assisting customers in achieving their sustainability objectives through innovative technologies.

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