Kongsberg Automotive appoints Linda Nyquist-Evenrud as the new President & CEO

31 Jan 2024 17:58 CET

Zurich, January 31, 2024: The Board of Directors (BOD) of Kongsberg Automotive
ASA (KA) has appointed Linda Nyquist-Evenrud as the President & CEO of KA,
effective immediately. The BOD appointed Nyquist-Evenrud as the interim
President & CEO on July 24, 2023.

"On behalf of the BOD of KA, I am pleased to officially announce Linda Nyquist
-Evenrud as the new President & CEO of KA," says Peter Thostrup, Chair of KA's
BOD, adding, "Nyquist-Evenrud brings over two decades of experience in the
automotive industry, including 16 years in KA in various leadership positions.
She led KA's most profitable business unit and served as the Executive Vice
President of the Flow Control Systems business unit until 2023. We, the newly
appointed BOD of KA, have worked closely with Nyquist-Evenrud and observed her
performance in the interim role. We see her as a strong and respected team
builder and have full confidence that her leadership will take KA forward and
create a company with improved profitability and cash flow."

Thostrup adds, "Nyquist-Evenrud's background and experience make her an
automotive industry veteran. Her leadership demonstrates a deep understanding of
KA's strategic objectives and her commitment to the company's mission. As the
new President & CEO of KA, Nyquist-Evenrud is tasked with expanding KA's market
position, strengthening KA's geographic footprint, controlling costs, while
maintaining focus on innovation, and ensuring that KA has a growth path going
forward."

"I am honored to be appointed as the new President & CEO of KA," says Nyquist
-Evenrud adding, "It has been a pleasure to serve KA as the interim President &
CEO for the last six months. As the new President & CEO, I look forward to
continuing to work with the BOD, shareholders, customers, and KA colleagues. My
priority is to continue to take concrete measures to improve profitability,
reduce costs, explore options for mitigating earnings pressure, and further
develop the company's strong market position in areas where KA excels.

Media and Communications Contact:
Therese Sjöborg Skurdal - Director Corporate Communications
therese.skudal@ka-group.com
+47 982 14 059
IR & Media Contact:
Mads Langaard - Head of Investor Relations
mads.langaard@ka-group.com
+47 905 81 264

About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle
industry. We drive the global transition to sustainable mobility by putting
engineering, sustainability, and innovation into practice. Our product portfolio
includes driver and motion control systems, fluid assemblies, and industrial
driver interface products. Find more information at:
kongsbergautomotive.com (http://www.kongsbergautomotive.com)

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