"Kolbergs has led a company with many big and demanding changes over the last few years. I am grateful for his efforts on Nortura and for the last five years as CEO for 20 years," says Trine Hasvang Vaag, chairman, adding:
"But there are too many arrows recently pointing out the wrong direction, and we have not time to wait for significant improvements for a long time. Therefore, the Council believes that these changes should be made now, said Trine Hasvang Vaag, chairman of the report.
Place three millions out of doors
The statement states that Nortura has not achieved the results expected by the board.
Vag says DN that it was the council that made the decision to change management. Kolbergs therefore receives a 12-month salary. In 2017, the driver's salary was NOK 3 million.
Rapid profit reduction
Nortura has yet to deliver results in the third quarter, while the results of the second quarter showed that operating profit fell NOK 132 million a year.
Then the operating profit amounted to 27 million. In the second third (four months) Norwegian pre-tax profit was minus 135 million kroons.
The company produces and sells everything from sausages, meat dough and carbons to eggs, chicken and bacon.
The decrease in operating income in the second quarter was mainly due to one-off expenses related to future liabilities for conversion and gift pensions, as well as sales of smaller brands.
"We have a lot of demanding processes and we are in a market with a small profit, which makes it hard to play. German representatives say that there is little chance in the industry to make mistakes.
Your rights and obligations to do something about it
Vice President and Chief Executive Officer, Hans Thorn Wittussen, joins the Temporary Executive, and the board immediately begins to find Nortura's new CEO.
Discharged CEO Arne Kristian Kolberg commented on the following:
"I am grateful that Nortura has been in charge of the past few years and had great motivation to succeed. When I fail to get the results that the board expects, it is their duty and obligation to do something. I fully respect and I wish the group all the best below.(Regulations)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our affairs through a link that directly links our pages. Copying or any other use of all or part of the contents may take place only with the express written permission or in accordance with law. For more information, please see here.