Orkla changes its corporate structure

Orkla is reorganising its operations into five, instead of four, business areas, and strengthening its Group Executive Board. Since the autumn of 2011, Orkla has been engaged in the process of further developing the Group to become a branded consumer goods company.  As part of this process, the main operations are now being restructured from four to five business areas: * Orkla Foods * Orkla Confectionery & Snacks * Orkla Home & Personal * Orkla International * Orkla Food Ingredients "The purpose of this reorganisation is to simplify our corporate structure and facilitate management of the various companies. We want to group together units that have more similar strategic, operational and market-related opportunities," says Orkla President and CEO Åge Korsvold. Orkla's corporate centre will provide support for the companies, ensure that expertise and experience are shared across company boundaries and promote cost- effective operations. The corporate centre will now have five areas of expertise: * Finance * Legal Affairs * Human Resources * Business Development * Corporate Communications & Corporate Affairs "In future, we will be working differently in a number of areas. The functions, organisation and expertise of the corporate centre are to reflect Orkla as a branded consumer goods group, and will be further adapted to the needs of our companies. The information we are communicating today marks the start of this change process," comments Åge Korsvold. Strengthened Group Executive Board All of the current members of the Group Executive Board will remain in their posts. Jan Ove Rivenes will be the new CEO of the Orkla Home & Personal business area. A new head is to be appointed for Orkla Confectionery & Snacks. Until the new CEO is in place, Rivenes will also head this business area. Ole Petter Wie has been appointed as new head of Business Development. Wie has broad experience from Ringnes, Nestlé, Coca-Cola, McKinsey, and other companies. He will be a member of Orkla's Group Executive Board. A more detailed description of Orkla's business areas and the Business Development department may be found in the attachment to this press release. Orkla ASA Oslo, 9 January 2013 Ref.: Executive Vice President Corporate Communications and Corporate Affairs Håkon Mageli Mobile +47 928 45 828 Attachment to the Press Release: http://hugin.info/111/R/1669206/542267.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Orkla ASA via Thomson Reuters ONE [HUG#1669206]