Kongsberg Maritime President will be next Group CEO

Geir Håøy Geir Håøy

JANUARY 27, 2016 — Geir Håøy, currently President of Kongsberg Maritime (KM), will succeed Walter Qvam as CEO when he resigns in June.

Mr. Qvam is stepping down under an agreement that provides for him to do so at the age of 63.

"The Board has conducted a thorough process to find a new CEO and has chosen Geir Håøy, currently President of Kongsberg Maritime (KM)," said Chairman of the Board, Finn Jebsen. "Kongsberg is in a time with demanding challenges and several opportunities. Geir Håøy excels with long international and industrial experience and has for five years led KM, Kongsberg’s largest business area. It is very pleasing that the best candidate came from Kongsberg. We put great emphasis on internal recruitment and are very pleased that this now also succeeded at the top level."

Mr. Håøy is 49 years old and joined Kongsberg in 1993. He has been a part of the corporate management team since 2010.

"Kongsberg has a solid market position and technology platform. We have over 7,700 competent employees and a strong corporate culture," said Mr. Håøy. "We will continue to develop the company to the benefit of our owners, customers and employees. Kongsberg’s strategy is future oriented and will remain firm. It is a great responsibility I am taking on and I go to the task with enthusiasm and great respect."

Mr. Qvam has been CEO since 2008.

"He has done a great job and leaves the company in a very good position," said Mr. Jebsen.

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