Tom Erik Foss-Jacobsen has been appointed CEO of Borregaard ASA. He succeeds Per A. Sørlie, who will retire after 26 years in the position (see notice to Oslo Stock Exchange 3 December 2020).
The appointment will be effective 1 August 2025.
"I am pleased that Tom Erik Foss-Jacobsen has accepted the position as CEO of Borregaard. With Foss-Jacobsen, Borregaard will get a leader with in-depth understanding of the business and previous experience from significant parts of Borregaard's international operations. Over several years, he has delivered strong results and has made a significant contribution to developing a robust and common culture and strategic understanding throughout the company. We are confident that he has the qualities necessary to further develop the company in the years to come," says Helge Aasen, chair of Borregaard's Board of Directors.
Tom Erik Foss-Jacobsen is currently Executive Vice President (EVP) and head of the BioSolutions (lignin-based biopolymers and vanillin products), a position he has held since 2019. Prior to that, he was EVP and head of BioMaterials (speciality cellulose and bioethanol) in Borregaard. Foss-Jacobsen holds a master's degree in international marketing and strategy and a bachelor's degree in civil engineering. He has more than 25 years' experience from Borregaard, including 21 years in leadership roles.
"I have been fortunate to be part of an exciting journey in Borregaard's commercial organisation. I'm proud of how Borregaard's highly competent organisation has continuously advanced our specialisation strategy by growing high-value business, driving diversification, and delivering solid results.
I approach the responsibilities of my new role with humility and a deep sense of commitment. With a comprehensive understanding of our organisation's operations and strategic objectives, I am confident in our collective ability to continue driving sustainable growth and creating value for both Borregaard and its stakeholders," says Foss-Jacobsen.
Per A. Sørlie has worked in Borregaard for 35 years and will leave the company at the end of September 2025.
"Per A. Sørlie has made significant contributions to Borregaard over more than 26 years as CEO, following nine years in key leadership roles within the company. He has been instrumental in shaping Borregaard's strategy, leading the transformation into a bio-based specialty chemicals company with strong global market positions. Since the company's listing on the Oslo Stock Exchange in 2012, Sørlie has played a pivotal role in driving substantial profit growth and increasing shareholder value. Moreover, he has fostered a robust commercial culture and developed leaders capable of advancing the business in the years ahead," says Aasen.
The Board will grant Foss-Jacobsen stock options at the accession date 1 August in accordance with the company's remuneration policy for long-term incentive schemes.
Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
Director Communications, Tone Horvei Bredal, +47 924 67 711
This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.
