Schibsted ASA CEO Kjell Aamot steps down by March 1, 2010

Aamot is stepping down as CEO. Photo: www.kampanje.com

Kjell Aamot is stepping down as CEO of Schibsted ASA. Photo: www.kampanje.com

Kjell Aamot will step down as CEO of Schibsted ASA. He will resign no later than 1 March 2010. The Board of Directors has started the process of finding Aamot’s successor.

Kjell Aamot has held the position as CEO of Schibsted ASA since the Group was formed in 1989. He is one of the CEOs with the longest tenure among listed Norwegian companies.

Aamot himself took the initiative towards the chairman of the board, Ole Jacob Sunde, to discuss his resignation as CEO of Schibsted. This discussion has lead to an agreement that was decided upon by the Board of Directors yesterday.

Kjell Aamot will continue in his position until the Board of Directors has appointed his successor and the successor has assumed this position, but no longer than 1 March 2010.

With a new CEO in place, Aamot will be at the Group’s disposal until his 60th birthday, 7 September 2010.

Schibsted ASA invites to a press conference today at 10:00 CET in the Group headquarter in Apotekergaten 10, Oslo. Participants are CEO Kjell Aamot and chairman of the board Ole Jacob Sunde.

Contact persons: Media: EVP Jan Erik Knarbakk, mobile: 47 90 10 00 19 Investors/analysts: VP Investor Relations Jo Christian Steigedal, mobile: 47 41 50 87 33

Jo Christian Steigedal VP Investor Relations

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