Bjorn Flatgard to Leave Elopak

Bjorn Flatgard has been Elopak’s CEO since 1996. Under his leadership the company has become a leader in the global market for packaging systems for fresh, liquid foods.

04/05/07 Bjorn Flatgard has decided to step down as head of Elopak, the company he has headed for more than ten years. During that time Elopak has become an international leader in the liquid foods packaging market. Moving forward, Mr Flatgard will concentrate on industrial development and a number of company directorships.

“As owner and chairman I think it is completely understandable that Bjorn is now seeking new challenges, after more than ten years as head of Elopak,” says Johan H. Andresen jr, CEO of Ferd and chair of Elopak’s board of directors. “Bjorn has successfully led the company through a major turn around, and helped restore the carton business to a sound level of profitability. The results which Elopak has achieved in the early part of 2007 show that the company is better positioned than ever before to continue forging ahead in the year ahead.”

Bjorn Flatgard has been Elopak’s CEO since 1996. Under his leadership the company has become a leader in the global market for packaging systems for fresh, liquid foods. The turnaround which Elopak has undertaken since the end of the 1990s has returned the company to profitability and made it once again an attractive investment. In 2006 Elopak generated gross revenues in excess of NOK 5 billion. It has around 2,500 employees in more than 40 countries.

In addition to his position as CEO of Elopak, Mr Flatgard is a director of Aker and deputy chairman of Aker Kværner. He is also set to become chairman of the fish farming company SalMar, which has applied for a stock market listing. In addition to directorships, Mr Flatgard will be working on several specific industrial development projects.

“I have spent ten exciting years at Elopak, and am proud of what the company has achieved,” says Mr Flatgard. “The SIG process was irrespective of its outcome always going to be the obvious time to leave the company, and after more than 20 years as a senior executive with Norwegian and internationally focused industrial operations, I am looking forward to using that experience as an industrial developer and company director.”

In addition to directorships with Aker Kværner, Aker and SalMar, Mr Flatgard has held a number of leading industry positions among others with the Confederation of Norwegian Business and Industry (NHO) and the Federation of Norwegian Process Industries (PIL). Before joining Elopak, he was a member of group management at Hafslund Nycomed and CEO of Nycomed Pharma.

Elopak expects to appoint a new CEO shortly, and Bjorn Flatgard will remain in position until a replacement has been appointed.