Baard Schumann terminated as CEO of Nordr as a result of disagreements with the company’s board of directors.
Appears from a message on Monday.
Schumann is resigning as CEO with immediate effect, so this will be the second time in three years that he has had to resign on the same day.
Can you explain the reason for the differences?
– It would be wrong of me to say anything about her. There are no “hard feelings”, although we have different assessments about the strategy. So the CEO should go, not the board of directors, Schumann tells DN.
He refers to the company for more questions specifically on the topic of controversies over strategy.
Ongoing during the summer
Baard Schumann was previously the president of Selvaag Bolig, But I had to go on the same day of 2018. No reason was given for leaving, except that it was “on the initiative of the Council”.
With immediate effect. By that time, he had been chief of Salvage for ten years.
Now he’s finished his day again, after just over a year in the executive presidency in Nord.
– We’ve had discussions for a while. You could say it was going on through the summer.
– This is the second time you have to go on this day in three years. What do you think that?
– It doesn’t necessarily look good, but no great drama. That’s how it is when you work in the top positions, says Schumann.
Pål Aglen, Director of Nordr Norge, will take over as CEO on an interim basis, until a permanent solution is found.
Over time, we’ve discovered that the board of directors and Schumann have a different view of how the business should be run. We have great respect for Baard’s expertise in housing development, but since we were unable to find an agreed strategy for the company, he has left his position. Norder has come a long way in just one year and has established himself as a strong and recognized player in both Norway and Sweden. Baard has done well for the company in the past year and we wish him good luck in taking on new challenges, says Nordr Chairman, Andreas S. Oulie.
Nordr’s two largest owners are billionaire John Fredriksen, who owns 42.5 percent through NPRO Holding, and real estate investor Ivar Tollefsen with the same contribution through FBB VE as.
8.75 billion Norwegian kroner
Early last summer, Nordr, then called Veidekke Eiendom, was acquired by a group of investors led by Fredriksen and Tollefsen.
The listed company Veidekke then announced that it had sold the real estate business in Norway and Sweden for NOK 8.75 billion to Tollefsen’s Fredensborg and Fredriksen’s Norwegian Property.
The company later changed its name from Veidekke Eiendom to Nordr.
The group of investors raised a total of NOK 2.6 billion in new shares, and the company was funded with NOK 5.7 billion in debt.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.
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