Changes in Group Executive Management of Telia Company
Dec 14, 2016
Wed, Dec 14, 2016 02:45 EST - Telia Company will have a revised organizational setup as of January 1, 2017. The main change will be Finland and Norway as part of the Group Executive Management. “The new structure will enhance business focus and enable us to speed up decision making whilst ramping up execution across our Nordic/Baltic markets all at the same time while maintaining focus on our responsible business agenda,” says Johan Dennelind, President and CEO, Telia Company.
The Norwegian and Finnish operations will from January 1 be part of Group Executive Management. Abraham Foss, the current CEO of Norway will join as well as the new CEO for Finland, Stein-Erik Vellan, who will replace the current CEO Valdur Laid. The operations in Lithuania, Estonia and Denmark will form a cluster overseen by Henriette Wendt who is currently Head of Corporate Development. Henriette remains in Group Executive Management. All countries will be reported as separate units to the market and the previous regional layer will now be replaced by people in the countries and from group functions, enabling further speed and efficiency.
Corporate Holdings Our current shareholding in Turkcell and Megafon will be managed by a new unit - Corporate Holdings - headed by Robert Andersson, who is currently head of Region Europe. Robert will in this new role remain member of Group Executive Management. The Latvian operations, LMT and Lattelekom, will also become part of the unit as they are only partly consolidated and Telia Company does not have operational control. Telia Carrier is a global leading internet backbone provider and has started to improve earnings and cash flow based on its new strategy. Telia Carrier is an important part of Telia Company and will also become a part of the unit. All companies will be separately reported to the market in accordance with market rules and regulations.
Corporate Development dissolved In the new organizational structure, Corporate Development will be split into several parts. Corporate Affairs (previously Group Legal Affairs) will be responsible for Mergers and Acquisitions (M&A), People and Engagement will take on Sustainability and the CEO Office will be responsible for Group Strategy, Risk Management, and also overseeing Internal Audit (who reports to Audit Committee). Ingrid Stenmark, Head of CEO Office, will become a member of Group Executive Management.
Region Eurasia continues to be headed by Emil Nilsson, reporting to Johan Dennelind who also chairs the internal steering board governing the region. The clear mandate is to deliver on business priorities and secure a responsible exit over time.
Ethics & Compliance continues to report to the CEO as before.
Johan Dennelind, President and CEO, Telia Company, says: “With an increased focus on our operations in the Nordics and Baltics, this new management structure will enhance transparency and enable us to ramp up execution across all our markets. The new structure will also ensure a continued focus and prioritization of responsible business for Telia Company. I want to take the opportunity to thank Valdur Laid for his hard work with transformation and laying the foundation for an exciting next phase for our operations in Finland. I welcome Stein-Erik Vellan to Telia Company, an appreciated and strong leader. I am also looking forward to working even closer with our Norwegian CEO Abraham Foss.
The Group Executive Management as of January 1, 2017
- President & Chief Executive Officer – Johan Dennelind
- CEO Office/ Strategy & Responsible Business – Ingrid Stenmark, SVP
- Finance / Finance & Procurement – Christian Luiga, Chief Financial Officer, EVP
- Communications and Division X – Peter Borsos, SVP
- People and Engagement/ Human Resources & Sustainability – Cecilia Lundin, SVP
- Corporate Affairs / Legal, M&A and Regulatory – Jonas Bengtsson, General Counsel, SVP
- Corporate Holdings – Robert Andersson, SVP (currently Head of Region Europe)
- Global Services & Operations – Anders Olsson, Chief Operating Officer, SVP
- Sweden/ Telia Sweden and Skanova – Hélène Barnekow, CEO of Sweden, EVP
- Denmark and Lithuania and Estonia – Henriette Wendt, Head of Cluster, SVP (currently Head of Corporate Development)
- Norway – Abraham Foss, CEO of Norway, SVP
- Finland – Stein-Erik Vellan, CEO of Finland, SVP
This information is information that Telia Company AB is obliged to make public pursuant to the EU Market Abuse Regulation and/or the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on December 14, 2016.
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