The North Media A/S Group to be organised in four lines of business, each with their own focus. This leads to a change of the Group Executive Board

26 November 2015
Company announcement no 10-15

So far, the companies of the North Media A/S Group have been organised in two segments: Print activities and Online activities. This segmentation will be abandoned effective from 1 January 2016 for a new structure, under which the Group will be organised in four business lines with the related subsidiaries.

These four business lines are:

• FK Distribution A/S – consisting of FK Distribution and the related wholly-owned or partially-owned subsidiaries, inclusive of NejTak+ and Minetilbud.dk
• North Media Aviser A/S – consisting of Søndagsavisen and eight local newspapers in Copenhagen and Frederiksberg, Lokalavisen Nordsjælland and Helsingør Dagblad as well as 50% of Vestsjællandske Distriktsblade A/S
• North Media Online A/S – consisting of, for example, BoligPortal.dk, Bostadsportal.se, Ofir.dk, håndværker.dk and MatchWork.com
• BEKEY A/S – holding the electronic key and access control system BEKEY

The Interim Management Statement for Q1 2016 will be the first to report on the new business lines.

Each of North Media’s four business lines holds different potential for market development. In their markets, the business lines also hold different market positions and are at different maturity levels. Following recent years’ transformation and many new business initiatives, strategically different efforts and focus in particular are called for to further optimise business.

CEO Lars Nymann Andersen, who has planned and proposed the new structure, has decided to resign as part of the change in group structure.

From 1 January 2016, the Executive Board of the North Media Group will consist of five executive officers. CFO Kåre Wigh will be Group Chief Executive Officer on the new Executive Board and remain in charge of the joint group functions of finance, accounting, legal, HR and IT. In addition, the Group Executive Board will have four executive officers, each to be in charge in their own business line and directly responsible to the Board of Directors of North Media A/S. This will intensify focus on growth and positive earnings in each business line:

On Lars Nymann Andersen's decision to resign, Chairman of the Board Richard Bunck says:

”Lars Nymann Andersen has been Chief Executive Officer of the Group for the past five years to the Board’s complete satisfaction. In turbulent market times, Lars has with his strong innovative and strategic competencies managed to rethink and improve several of the Group’s positions so that we have now a solid basis for the future. I had hoped that Lars would continue, but of course I respect his choice not to be a part of the Group’s new structure.”

Lars Nymann Andersen says:

”North Media has in recent years undergone a major transformation where all business models have been changed and prepared for future growth. A new powerful and targeted structure is now being formed to continue and further strengthen the many exciting and promising business activities of North Media. I am very pleased with the company I will now be leaving and think it is the right time to pass on the baton to a new strong management team.”

The above changes will take effect from 1 January 2016.

For further information, please contact CEO Lars Nymann Andersen at +45 40362630 or CFO Kåre Wigh at +45 25652145. 

Yours faithfully

North Media A/S

Richard Bunck

Chairman of the Board

This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.