Board of Directors extends Åge Korsvold's ...

The Board of Directors of Orkla ASA has today decided to extend Åge Korsvold's contract as President and CEO.

"Orkla is in a phase of transformation. Our branded consumer goods business is to be further developed, and non-core businesses are to be divested. Åge Korsvold has the leadership experience and financial expertise that Orkla requires to carry out this process," says Stein Erik Hagen, Orkla's Chairman of the Board.

Åge Korsvold has many years of experience in top executive and Board positions in Norwegian and international business and industry. He was CEO of Storebrand from 1994 to 2000 and CEO of Kistefos from 2001 to 2010. He was elected Deputy Chair of Orkla's Board of Directors in May last year.

Orkla ASA
Oslo, 6 September 2012

Ref.: Håkon Mageli, Executive Vice President, Corporate Communications and Corporate Affairs, [phone].

This information is subject to disclosure under section 5-12 of the Securities Trading Act.

---

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#1639178