Quantafuel ASA | Quantafuel's Kjetil Bhn steps down as CEO

05.07.2021 08:00

The CEO of Quantafuel ASA ("Quantafuel"), Kjetil Bhn, has informed the board that he will step down from his position as CEO. As the company is now in a new phase, the board and Kjetil Bhn have over time had an ongoing process planning the company's future management structure, opening up for a more industrial leader. Quantafuel has initiated a process to recruit a new CEO and in the interim period, the Chair of the Board, Ann-Christin Andersen, will serve as Executive Chair, while Terje Eiken, the Chief Operating Officer, will serve as interim CEO. Dr. Christian Lach, who recently joined Quantafuel from the position as Project Lead ChemCycling in BASF, will take on additional responsibility towards partner development and customers. As Executive Chair, Ann-Christin Andersen will have special attention on strategy development and leading Quantafuel into a new industrial phase. In addition, Bhn will take on the role as a strategic advisor to the company in relation to future value creation and new ventures. "It has been a privilege to lead Quantafuel and our highly motivated and skilled employees. Today, Quantafuel is a company with first mover technology, with a unique solution to handling plastic waste and a strong strategic basis for future growth and profitability. And I am truly proud of what we have achieved. Being a typical entrepreneur, my skill set fits best in the initial phase and development of a company. I am driven by the fast, day-to-day changes that is typical for the first growth stages. Now that Quantafuel is about to enter a large, industrial roll-out phase, I believe someone else can bring more value to the company as CEO," says Bhn. "I am happy to use my skill set to create value for Quantafuel and its shareholders going forward," Bhn continues. "We appreciate Kjetil's commitment and achievements and wish him the best for the future. Kjetil has been instrumental in Quantafuel's strong development and for providing shareholder value since he started. I am very pleased that he will continue this exciting journey with us as a strategic advisor. Now that the company is transforming and adapting to a more industrial phase, we have a search ongoing for a CEO profile reflecting this new chapter for Quantafuel," says Ann-Christin Andersen, Chair of the Board. Quantafuel is looking for a CEO with experience and strong motivation for building an industrial business in the circular economy. This would ideally be combined with strong commercial skills and an international business network. For further information, please contact: Astrid Mannion-Gibson, Head of Communications Tel: +47 466 32 010 Ann-Christin Andersen, Chair of the Board Tel: +47 934 43 606 This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Kristian Flaten, CFO in Quantafuel ASA, on 5 July 2021 at 08:00 CEST