Telenor Group appoints SigveBrekke as CEO

NEW DELHI: Telenor Group has appointed SigveBrekkeas the new group president and CEO.


He will succeed Jon Fredrik Baksaas by 17 August,2015.


Brekke is currently executive vice president and head of Telenor Group's Asia operations. He joined Telenor in 1999 and has held several executive positions in the company since then.


“SigveBrekke has a solid track-record as the head of Telenor's Asia operations and part of Group Management since August 2008. His leading role in our Asian success story combined with his vast international experience and leadership capabilities will be of great value as the company continues its profitable growth journey,” said Telenor Group chairman of the Board of Directors SveinAaser.


Brekke has been instrumental in establishing Telenor Group as a leading international mobile operator. Under Brekke's leadership, Telenor has added more than 100 million subscribers in Asia. The value creation from Asia has been significant and the region now represents more than 40 percent of the total enterprise value of Telenor Group. Telenor is well positioned to monetise on the next growth wave - providing internet for all.


“It is a great honour to be asked to lead Telenor. Our company's Norwegian and international success is a result of Telenor Group's ability to provide digital communication services that are valuable to our customers. Telenor'sstrategy, including our financial priorities, forms a solid platform for value creation for our shareholders and continued growth in Norway, Europe and Asia. We are poised to capture value from the opportunities arising from strong demand for internet services and I look forward to executing our strategy together with our 33,000 employees,” said Brekke.


Baksaas steps down after 13 years as the company president and CEO. In September 2014, he extended his tenure for another year, until the end of 2015. In preparation of Baksaas' retirement, Telenor's Board of Directors initiated a thorough process with a broad set of internal and external candidates to find his successor. Baksaas will continue as advisor to the Board of Directors until the end of 2016 and will serve as chairman of GSMA, the global industry organisation for mobile operators.


“Jon Fredrik Baksaas has internationalized Telenor and transformed us into a modern, world-class telecom company and widely known consumer brand originating from Norway. I believe Fredrik is one of the most important industry leaders in Norway in modern times," said Aaser.


Telenor is a mobile telecom company with mobile operations in 13 markets and 192 million mobile subscriptions worldwide. Revenues have increased from NOK 49 billion to NOK 107 billion and market capitalisation from NOK 45 billion to NOK 270 billion during Baksaas' leadership. A significant contributor to this development has been the company's growth in Asia.


“To lead Telenor during a period of rapid growth and major technological changes has been both exciting and rewarding. In SigveBrekke, the Board of Directors has found the perfect candidate to continue Telenor's growth and value creation. We have worked closely for many years, and his knowledge of the business, customer focus and hands-on management style will ensure a great future for the company," said Baksaas.


Brekke's annual base salary will be NOK 5.9 million. In addition he will be entitled to a long-term incentive grant of 30 per cent of his annual base salary. His maximum annual bonus is 50 per cent of annual base salary. His existing pension agreement will be continued, however his pensionable income will be capped at NOK 5 million. Brekke's retirement age is 65 years.

Latest Reads
Multi-media ad campaign to popularise gold coin

A year after it was first launched, a multimedia advertising campaign is being launched to drive awareness around Diwali on the availability of the Indian gold coin by the Mines and Minerals Trading Corporation along with World Gold Council. Being launched this week, the campaign will cover...

MAM Media and Advertising Ad Campaigns
Vizeum launches Binary, special advisory unit for media clients

“Media business is, in the short term, headed for a tipping point, driven by the changing consumer-media interface,” emphasises Vizeum India MD Shripad Kulkarni, who strongly believes that media companies need a definitive transformation strategy in place now.

MAM Media and Advertising Media Agencies
Havas Media bags Rs 15-cr Sujata account

MUMBAI: Havas Media Group India has bagged the integrated media duties of Sujata, an Indian Consumer Electronics & Home Appliances brand for Juicer Mixer Grinders. The incumbent on the business was Exposure Media. The account will be handled out of Gurgaon office led by Uday Mohan. The...

MAM Media and Advertising Account
TV festive ad spend to reach Rs 8000 cr; experts divided

MUMBAI: The festive months of October and November are welcome months not just for you and your family, but for most Indian brands as well. After all, they eagerly wait for this early window when consumers loosen up their purse strings and put their Diwali bonuses to good use, aka, shopping.

MAM Marketing MAM
Amagi partners with BARC India to offer monitoring of geo-targeted TV ad-campaigns

Amagi Media Labs has entered into a partnership agreement with India’s apex television viewership monitoring body BARC India to help advertisers monitor geo-targeted ad-campaigns of brands across TV channels.

MAM Media and Advertising AD Agencies
iProspect conceptualises unique digital video for ICICI two-wheeler insurance

iProspect India has conceptualized and executed a unique digital video for ICICI Lombard General Insurance in their latest campaign on two-wheeler insurance.

MAM Media and Advertising AD Agencies
eBay engages consumer with live game on FB

MUMBAI: Festive season is a busy time for Indian brands, especially the e-commerce players given the shopping spree the nation witnessed around the time. Thus it becomes important to brainstorm on new and unique ways to get the consumer’s attention; something different from the unbelievable...

MAM Media and Advertising Ad Campaigns
Culture Machine & Quaker Oats aim to feed kids

As the festive mood gathers spirit in the country, Culture Machine’s digital channel Being Indian, in collaboration with Quaker Oats, have released a new campaign. Titled "Ek Muthi Sonu ke Naam", the video urges people to pause and spare a thought to the millions of children who go hungry.

MAM Media and Advertising Ad Campaigns
BTVi unveils new brand positioning

BTVi has unveiled its new positioning, #OpinionsThatCount, aimed at impacting the opinions of the influencers. With this, BTVi will be the voice and choice of the influential. An integrated campaign will be launched primarily catering to influencers, key decision makers and opinion makers.

MAM Media and Advertising People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories