Vow ASA: Vow appoints Tina Tønnessen as new CFO

29 Mar 2023 07:29 CEST

Vow ASA's (OSE: VOW) has appointed Tina Tønnessen Chief Financial Officer (CFO)
effective as of 1 May 2023, following current CFO Erik Magelssen's decision to
leave the company to pursue new opportunities.

Tina Tønnessen joins Vow from DNB, Norway's largest bank, where she has worked
in corporate banking, and most recently in DNB Markets' Investment Banking
Division. Prior to joining DNB, she was an auditor in KPMG. A Norwegian citizen
and Certified European Financial Analyst (CEFA), she has a master's degree in
Business Analysis and Performance Management from the Norwegian School of
Economics (NHH).

"It is with great pleasure that I welcome Tina to our team. Her background from
finance and corporate banking is highly relevant for Vow as we continue to build
our business and expand the collective competence of our team. I have also
learnt that she shares our passion to eliminate pollution, enhance circularity,
and mitigate climate change, making her a perfect fit for Vow," said Henrik
Badin, Chief Executive Officer of Vow ASA.

"I am honoured and grateful to be joining Vow and look forward to being part of
the company's success. Vow plays an important role as the company's customers
reinvents themselves and their business models, freeing themselves from fossil
carbon, and finding ways to convert waste into valuable raw materials," said
Tina Tønnessen.


Securing an orderly transition

Magelssen will remain part of the Vow team until the end of June 2023, ensuring
an orderly transition to his successor. He joined Vow in January 2017 and has
been instrumental in the company's development since then.

"It has been a great time. Together we have seen our company contributing
significantly to cleaner oceans and more climate-friendly landbased industries
and growing nearly four-fold in revenues. I will remain grateful for his support
and wish him all the best in his new role," said Henrik Badin.

"Vow is an outstanding company with a strong and dedicated team of people, so
this was not an easy decision to make. It has been fantastic to be part of this
strong growth journey, and I will miss the employees and the challenging work
tasks. I am very grateful for having been part of the Vow team for so long and
look forward to seeing Vow continue its positive development in the years to
come", says Erik Magelssen.


Other changes to the executive management

Vow has recently made several other changes in the management, including the
promotion of Malena Morsbach to the position as Chief of Staff and Per Carlsson
as Chief Development Officer. They have been with Vow since May 2022 and August
2021 respectively.

From 1 May 2023, the company's Executive Management Board comprises the
following.

Henrik Badin, Chief Executive Officer
Tina Tønnessen, Chief Financial Officer
Jonny Hansen, Chief Operating Officer
Malena Morsbach, Chief of Staff
Per Carlsson, Chief Development Officer


For more information, please contact:

Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Email: henrik.badin@vowasa.com

Erik Magelssen, CFO, Vow ASA
Tel: +47 928 88 728
Email: erik.magelssen@vowasa.com


About Vow

Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about
preventing pollution. The company's world leading solutions convert biomass and
waste into valuable resources and generate clean energy for a wide range of
industries.

Advanced technologies and solutions from Vow enable industry decarbonisation and
material recovery. Biomass, sewage sludge, plastic waste and end-of-life tyres
can be converted into clean energy, low carbon fuels and renewable carbon that
replace natural gas, petroleum products and fossil carbon. The solutions are
scalable, standardised, patented, and thoroughly documented, and the company's
capability to deliver is well proven.

The company is a cruise market leader in wastewater purification and
valorisation of waste. It provides technology and solutions which enable
industries to transition towards a fossil-free future by converting biomass and
waste into valuable resources and clean energy. The company also has strong
niche positions in food safety and robotics, and in heat-intensive industries
with a strong decarbonising agenda.

Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange
(ticker VOW).


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

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