Norwegian names new CEO

A 30-year veteran of international business management was named by Norwegian last week as its new CEO. Jacob Schram, 57, takes over on 1 January. Geir Karlsen will continue as CFO and deputy CEO.

Chairman Niels Smedegaard said Schram’s extensive management experience, leadership skills, strong commercial consumer orientation and track record of value creation would benefit Norwegian greatly as the company entered a new phase.

He also praised Karlsen for his “remarkable efforts” implementing a series of measures which had resulted in strong financial improvements since Norwegian founder and former CEO Bjørn Kjos stepped down earlier this year (BTN 15 July).

“Profits in the company’s third quarterly results were the highest ever and the company has also taken several actions to increase liquidity and reduce capital commitments,” Smedegaard added.

Schram said: “Norwegian has made aviation history and I am honoured to take on the role as CEO. I look forward to using my experience to build on the strong foundation laid down by Bjørn Kjos, Geir Karlsen and the talented and dedicated Norwegian team.

“My main focus now will be to bring the company back to profitability and fortify our position as a strong international player within the aviation industry.”

www.norwegian.com

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