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Bergen, Norway
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Bergen, Norway

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News Article | May 10, 2017
Site: globenewswire.com

(Fornebu, 10 May 2017) The Corporate Assembly has elected Grethe Viksaas and Jørgen Kildahl as new members of the Board of Directors of Telenor ASA. The new directors will succeed Siri Beate Hatlen, Ashok Vaswani, Regi Aalstad and Dag Opedal, who has been relieved of their duties. Grethe Viksaas was born in Norway in 1958 and lives in Oslo. Ms. Viksaas has had a long career in Northern European managed services provider Basefarm AS - first as founder, CEO and from 2016 as working chair. Prior to her career in Basefarm, Viksaas served as CEO for SOL System AS and Infostream ASP. Viksaas has experience from numerous board positions, including Zenitel Group, and Inmeta-Crayon. She currently serves on the boards of Norsk Regnesentral and IKT-Norge, as well as various startup companies. Ms. Viksaas has a master's degree in computer science from the University of Oslo. Jørgen Kildahl was born in Norway in 1963 and lives in Düsseldorf, Germany. He is currently serving on the Board of Directors of Höegh LNG and eSmart Systems. Kildahl has previously served as a member of the Board of Management in E.ON SE, and as an Executive Vice President in Statkraft. He has also been a partner in the PR consulting group Geelmuyden Kiese. Kildahl holds a business degree (siviløkonom) and a MBA in Finance from the NHH Norwegian School of Economics in Bergen. After these changes the Board of Directors of Telenor ASA consists of: The Nomination Committee aims to propose the election of an additional new Director to the Telenor ASA Board. Such proposal will be made during the fall of 2017.


News Article | May 10, 2017
Site: globenewswire.com

(Fornebu, 10 May 2017) The Corporate Assembly has elected Grethe Viksaas and Jørgen Kildahl as new members of the Board of Directors of Telenor ASA. The new directors will succeed Siri Beate Hatlen, Ashok Vaswani, Regi Aalstad and Dag Opedal, who has been relieved of their duties. Grethe Viksaas was born in Norway in 1958 and lives in Oslo. Ms. Viksaas has had a long career in Northern European managed services provider Basefarm AS - first as founder, CEO and from 2016 as working chair. Prior to her career in Basefarm, Viksaas served as CEO for SOL System AS and Infostream ASP. Viksaas has experience from numerous board positions, including Zenitel Group, and Inmeta-Crayon. She currently serves on the boards of Norsk Regnesentral and IKT-Norge, as well as various startup companies. Ms. Viksaas has a master's degree in computer science from the University of Oslo. Jørgen Kildahl was born in Norway in 1963 and lives in Düsseldorf, Germany. He is currently serving on the Board of Directors of Höegh LNG and eSmart Systems. Kildahl has previously served as a member of the Board of Management in E.ON SE, and as an Executive Vice President in Statkraft. He has also been a partner in the PR consulting group Geelmuyden Kiese. Kildahl holds a business degree (siviløkonom) and a MBA in Finance from the NHH Norwegian School of Economics in Bergen. After these changes the Board of Directors of Telenor ASA consists of: The Nomination Committee aims to propose the election of an additional new Director to the Telenor ASA Board. Such proposal will be made during the fall of 2017.


Fennis B.M.,University of Groningen | Andreassen T.W.,NHH | Lervik-Olsen L.,Norwegian School of Management
PLoS ONE | Year: 2015

To curb the trend towards obesity and unhealthy living, people may need to change their entire lifestyle to a healthier alternative, something that is frequently perceived to be problematic. The present research, using a large, representative community sample, hypothesized and found that a key factor responsible for why people do not intend to change lifestyles is a sense of commitment to past behavior. However we also found that the contribution of commitment was attenuated for individuals with a stronger tendency for behavioral disinhibition thus underscoring the "bright side" of this individual difference characteristic that traditionally has been mainly associated with impulsive and indulging behavior. Overall, the present findings add to our understanding of factors inhibiting and promoting healthy behavior change. © 2015 Fennis et al.This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.


News Article | February 24, 2017
Site: globenewswire.com

Jon Fredrik Baksaas Född1954. Civilekonomexamen, NHH Norwegian School of Economics & Business Administration, Norge. Styrelseledamot: Svenska Handelsbanken AB. Innehav i Ericsson: Inget.* Huvudsaklig arbetslivserfarenhet och övrig information: Verkställande direktör och koncernchef för Telenor (2002-2015). Har innehaft tidigare positioner inom Telenorkoncernen sedan 1989, däribland vice verkställande direktör, finanschef och chef för TBK AS. Tidigare befattningar innefattar finanschef för Aker AS, finansdirektör för Stolt Nielsen Seaway AS och controller inom Det Norske Veritas, Norge och Japan. Ledamot i styrelsen för GSMA (2008-2016) och ordförande i styrelsen för GSMA (2014-2016).   Jan Carlson Född 1960. Civilingenjörsutbildning, Teknisk fysik och elektroteknik, Linköpings universitet. Styrelseordförande: Autoliv Inc. Styrelseledamot: BorgWarner Inc., Svenskt Näringsliv, Teknikföretagen och Trelleborg AB. Innehav i Ericsson: 7 900 B aktier.* Huvudsaklig arbetslivserfarenhet och övrig information: Verkställande direktör och koncernchef för Autoliv Inc. sedan 2007 och styrelseordförande för Autoliv Inc. sedan 2014. Har innehaft tidigare positioner inom Autolivkoncernen sedan 1999, däribland chef för Autoliv Europe, Vice President Engineering och chef för Autoliv Electronics. Tidigare befattningar innefattar verkställande direktör för Saab Combitech och Swedish Gate Array.   Eric A. Elzvik Född 1960. Civilekonomexamen, Handelshögskolan i Stockholm. Styrelseledamot: IMD Foundation, Lausanne, och Swiss Swedish Chamber of Commerce, Zurich, Schweiz. Innehav i Ericsson: 10 000 B-aktier.* Huvudsaklig arbetslivserfarenhet och övrig information: Finanschef och medlem av ABB-koncernens Group Executive Committee (2013-2017). Finanschef för enheten ABB Discrete Automation & Motion (2010-2012) och för enheten Automation Products (2006-2010). Tidigare befattningar inom ABB sedan 1984, däribland chefspositioner inom finans, företagsförvärv och nya investeringar.   * Antalet aktier motsvarar aktieinnehavet vid tidpunkten för kallelsen och omfattar innehav av närstående samt innehav av ADS, om några.


News Article | December 12, 2016
Site: www.businesswire.com

MADRID--(BUSINESS WIRE)--HNA Group ("HNA") today issued the following letter to NH Hotel Group (“NH Hotel”) (BME:NHH) shareholders: HNA is deeply concerned about the contract that the NH Hotel Board of Directors, controlled by Oceanwood’s Alfredo Fernandez, is entering into with Jose Antonio Castro, the owner of Hesperia. NH Hotel manages 28 hotels for Hesperia, many of which are badly in need of renovations that Hesperia cannot afford. For more than a year, NH Hotel’s previous CEO Federico Gonzalez attempted to negotiate a management contract with Mr. Castro that would provide €24 million of capital for the required investments, to be paid over a period of three years. In return, Hesperia would have been obligated to have NH Hotel manage the hotels under a long-term management contract. These terms were approved by NH Hotel’s previous Board, which also insisted that the contract provide NH Hotel’s non-Hesperia shareholders with adequate protections by guaranteeing that: 1. The cash payments to Hesperia were used to renovate the hotels, not to service Mr. Castro’s substantial outstanding debt which comes due in December 2017. 2. Mr. Castro could not terminate the management contracts before NH Hotel recouped its €24 million payment to Hesperia through appropriate and financially secure termination penalties. 3. Mr. Castro did not receive an accelerated lump-sum payment at the expense of NH Hotel’s non-Hesperia shareholders through a less stringent early termination provision upon a change of control (such as a transaction with HNA). 4. Restricted Mr. Castro’s ability to receive payments from NH Hotel and then terminate or default on the contract in order to “sell” it to a new third-party, thereby profiting the same management contract twice. By repeatedly rejecting these terms, Mr. Castro created an impasse with NH Hotel’s previous Board that could only be solved by taking insurgent action to reconstitute the Board and empower a more amenable Chair, Alfredo Fernandez. Based on the recent disclosure of a new management contract between NH Hotel and Hesperia, it appears that Mr. Fernandez has fulfilled his end of the bargain by rubber stamping a sweetheart contract that rewards Mr. Castro for his support of Mr. Fernandez and Oceanwood. In contrast to the shareholder protections insisted by NH Hotel’s previous Board, the new management contract with Hesperia: 1. Pays Hesperia €31 million, substantially more than the amount unanimously approved by the prior Board and supported by prior management. 2. Substantially dilutes the change of control provisions to Mr. Castro’s advantage by stipulating broadly that if HNA were only to consider a transaction with NH Hotel that Mr. Castro would be allowed to terminate the management contract early and sell the it to another hotel company without any clawback provisions requiring him to repay the €31 million to NH Hotel. 3. Allows Mr. Castro to “secure” the relatively limited termination penalties by pledging a minority share of his majority share ownership in several real estate assets purportedly “owned” by Mr. Castro. These real estate assets have no value as Mr. Castro, as majority share owner, can prevent their sale – or potentially borrow against them – assets to the point of destroying all equity value. Further, we understand that virtually all of Mr. Castro’s assets, including his NH stock and any real estate holdings, are already pledged to Banco Santander which owns the loan coming due in December 2017. Given that Mr. Castro recently released 50% of his NH Hotel shares to Santander in order to cover part of his debt repayment, and the fact that the value of his remaining stake in NH Hotel has decreased significantly along with NH Hotel’s share price, we believe that his debt is greater than the value of his NH Hotel shares. Pledged as collateral, his net equity in his real estate assets is already unlikely to have any value. In a letter sent to the Board prior to the disclosure of the new contract, I asserted that the Board could not have possibly completed a comprehensive credit analysis on Hesperia as inadequate information had been made available for such an analysis to be conducted. I asked the Board to retain an independent financial advisor to conduct this analysis and provide a fairness opinion to NH Hotel non-Hesperia shareholders (not the Board) before entering into any new contract with Hesperia. As a result of the letter, the contract included a new provision providing for due diligence to be performed by NH Hotel. This is a step in the right direction, but it comes too late and falls too short. HNA therefore reiterates its call for the following: In addition, we have communicated directly to the Board our request that they undertake: To put it bluntly: The process of reconciling the interests of HNA and the non-HNA shareholders cannot begin until the corporate governance problem at NH Hotel is solved. HNA Group is a global Fortune 500 company focused on Tourism, Logistics and Financial Services. Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island into a global company with over $90 billion of assets, $30 billion in annual revenue and an international workforce of nearly 200,000 employees, primarily across North America, Europe and Asia. HNA’s tourism business is a fast-growing, vertically-integrated global player with market-leading positions in aviation, hotels and travel services. HNA operates and invests in nearly 2,000 hotels with over 300,000 rooms across major markets, and has 700 aircraft carrying over 90 million passengers to 260 cities worldwide. For more information, please visit www.hnagroup.com.


Poudel D.,NHH | Sandal L.K.,NHH
Natural Resource Modeling | Year: 2015

We present a multispecies stochastic model that suggests optimal fishing policy for two species in a three-species predator-prey ecosystem in the Barents Sea. We employ stochastic dynamic programming to solve a three-dimensional model, in which the catch is optimized by using a multispecies feedback strategy. Applying the model to the cod, capelin, and herring ecosystem in the Barents Sea shows that the optimal catch for the stochastic interaction model is more conservative than that implied by the deterministic model. We also find that stochasticity has a stronger effect on the optimal exploitation policy for prey (capelin) than for predator (cod). © 2015 Wiley Periodicals, Inc.


Linnerud K.,CICERO Center for International Climate and Environmental Research | Mideksa T.K.,CICERO Center for International Climate and Environmental Research | Eskeland G.S.,NHH
Energy Journal | Year: 2011

A warmer climate may result in lower thermal efficiency and reduced load-including shutdowns-in thermal power plants. Focusing on nuclear power plants, we use different European datasets and econometric strategies to identify these two supply-side effects. We find that a rise in temperature of 1°C reduces the supply of nuclear power by about 0.5% through its effect on thermal efficiency; during droughts and heat waves, the production loss may exceed 2.0% per degree Celsius because power plant cooling systems are constrained by physical laws, regulations and access to cooling water. As climate changes, one must consider measures to protect against and/or to adapt to these impacts. Copyright © 2011 by the IAEE.


News Article | November 2, 2016
Site: www.businesswire.com

MADRID--(BUSINESS WIRE)--HNA Group ("HNA") today issued the following letter to NH Hotel Group (“NH Hotel”) (BME:NHH) shareholders: Dear Fellow Shareholder, Three years ago, HNA Group rescued NH Hotel Group from the brink of insolvency by providing a necessary capital infusion. HNA remains NH Hotel’s largest single shareholder, with 29.5% of the outstanding share capital. In June 2016, a minority investor group led by hedge fund Oceanwood Capital seized control of NH Hotel with the explicit sup


News Article | November 15, 2016
Site: globenewswire.com

We are pleased to announce that Erik Magelssen has been appointed Scanship's new Chief Financial Officer (CFO). Magelssen will report to Henrik Badin, CEO, and will assume the role no later than 1 March 2017. Magelssen's previous job experience includes Finance Manager at Wilh. Wilhelmsen ASA, CFO at Kongsberg Automotive Holding ASA and CFO at Via Egencia AS (VIA Travel Group). Magelssen is educated from Heriot Watt University, Norwegian School of Economics (NHH) and Harvard Business School. For further queries, please contact: Henrik Badin - CEO Tel: +47 90 78 98 25 Email: henrik.badin@scanship.no ABOUT SCANSHIP HOLDING ASA Scanship is an industry leader in advanced technologies for processing waste and purifying water within the maritime industry. Owners of vessels operating our systems have the solutions to convert all waste and wastewater to inert materials, recyclables, clean flue gas and effluent, which meets the highest international discharge standards. Our new technologies will recover water and produce energy, providing tangible payback from the operations. We strive for the highest quality, innovative and sustainable solutions. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


BERGEN, Norway, Oct. 25, 2016 (GLOBE NEWSWIRE) -- Marine Harvest has decided to strengthen the management team within farming. Due to biological challenges and succession plan for the current COO Farming, the farming segment within Marine Harvest will be divided into two areas. Per-Roar Gjerde has been appointed new COO Farming Norway and Chile. Per-Roar Gjerde will be part of Marine Harvest's Group management team and report to the CEO. Marit Solberg will continue to lead the farming activities in Scotland, Canada, Ireland and Faroe Island. The organizational change will be effective from 1 January 2017. Per-Roar Gjerde, born in 1967, is a graduate from the Norwegian School of Economics (NHH), and has completed executive management courses including AFF in Norway and at Insead in France. He has extensive experience within salmon farming and sales. He started his career as a salesperson with Domstein Salmon. In 2002 Gjerde became controller for farming at Fjord Seafood Norway, which became part of Marine Harvest in 2006. In 2007 Per-Roar Gjerde was appointed Regional Director for Region West, one of the four business units of Marine Harvest Norway. In January 2016 he was appointed Managing Director for Marine Harvest Chile and subsequently moved to Chile where he led the business restructuring process. Gjerde will continue in his current position until his replacement is in place. Marine Harvest's Group management team, effective 1 January 2017, is as follows: This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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