According to Norwegian corporate law, the board is responsible for the overall management of the Schibsted Group, while the CEO is responsible for the day-to-day management. The board has also established an audit committee and a compensation committee.
The role of the board is to supervise the day-to-day management as carried out by the CEO and Schibsted’s general activities and ensure that appropriate management and control systems are in place. The board appoints the CEO and stipulates the job instructions, powers of attorney and terms and conditions of employment for the CEO.
The board has established internal rules of procedures that describe its responsibility, duties and administrative procedures. The rules of procedure also describe the duties of the CEO and his/her duties vis-à-vis the board. The board performs an annual self-assessment of its work which forms the basis for the nomination committee’s annual board evaluation work. The Articles of association define that the board shall comprise from six to eleven members, in addition to deputy members. The Group’s employees shall be represented on the board by the number of representatives in accordance with current agreements with the company. As of today, the board consists of ten members whereas seven are shareholder’s representatives and three are employee representatives. The board’s shareholder-elected members are elected for one-year terms. The employee-elected representatives are elected for two-year terms.
In addition to the elected board members, there is one observer attending the board meetings of Schibsted ASA. The observer is entitled to speak and submit proposals at the board meetings.
Number of Schibsted ASA shares per board member disclosed below is updated per 25 May 2023.
Karl-Christian Agerup (born 1962)
Chairman of the Board
Global Partner at Antler from January 2020. Previously CEO of Oslotech AS from 2010-2020, co-founder and General Partner of Northzone Ventures from 1997–2009, co-founder and CEO of Hugin ASA and project manager in McKinsey & Company. Agerup has extensive board experience, including from companies such as DNB ASA, Zalaris ASA and Startuplab AS (chair). Substitute board member in Schibsted ASA from 2003 – 2007 and board member from 2008 – 2014. Agerup has since 2010 been an alternate board member in the Tinius Trust. Graduate of Copenhagen Business School and Master of Science in Management from Massachusetts Institute of Technology. Board member in Schibsted from 2020 and Chair of the Board from 2022. Based in Norway.
Number of shares in Schibsted ASA:
Schibsted A-shares: 4,400, Schibsted B-shares: 6,000.
Rune Bjerke (born 1960)
Deputy Chairman of the Board
Bjerke has held CEO positions in Scancem International (1999 – 2000), Hafslund ASA (2000 – 2006) and DNB ASA (2007 – 2019). Bjerke currently sits on the board of several companies, including Wallenius Wilhelmsen ASA (Board Chair) and Norsk Hydro ASA. Bjerke has extensive board experience, including from companies such as Vipps AS, Statoil ASA, Storebrand ASA, Finans Norge and Renewable Energy Corporation AS. Bjerke holds the position as Adjunct Executive in Residence at Norwegian School of Economics (2020 –). He also has experience as a political advisor in the Ministry of Petroleum and Energy, party secretary in the Oslo Labor Party and finance council in the municipality of Oslo. Bjerke holds a degree in economics from the University of Oslo, and a master in Public Administration (MPA) from Harvard University, Kennedy School of Government. Board member in Schibsted from 2021 and Deputy Chair from 2022. Based in Norway.
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 6,022.
Philippe Vimard (born 1974)
Board member
Group Chief Operating Officer, Chief Technical Officer and Board Member of Doctolib, the leading healthcare software-as-a-service platform in Europe. Previously Chief Technology Officer of payment technology company Klarna in Sweden (2016 – 2018) and Chief Operating Officer and Chief Technology Officer at online travel group eDreams ODIGEO in Spain (2011 – 2015). Various positions in Expedia in North America and Europe from 2002 – 2010, including Senior Director, Lodging and Chief Technology Officer of Venere.com. Board Director of PATRIZIA AG, a publicly-traded real estate investment firm, since 2020. Educated in Applied Science at Maisonneuve College and Computer Science at CDI College in Montreal. Board member in Schibsted since 2018, and Chairman of the remuneration committee, since 2021. Based in France.
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 19,240.
Satu Huber (born 1958)
Board member
Huber is currently the Chair of EMMI, European Money Market Institute in Brussels, and a member of the Finnish business and policy forum, the advisory committee of Ermitage Partners and various foundations related to the Helsinki Swedish School of Economics. Huber has held a variety of CEO roles at financial organisations, including Elo Mutual Pension Insurance Company, Local Tapiola Pension and the Federation of Finnish Financial Services. She was Director of Finance and Head of Finance Division at the Finnish State Treasury from 1997-2006. Prior to that she worked 16 years in banking, for Citibank, and for Union Bank of Finland and Merita (now Nordea). Huber has extensive board experience, and has previously held board positions in listed companies such as Orthex, Ahlsell, YIT and Finnair. Master of Economic Sciences from the Helsinki Swedish School of Economics and Business Administration. Board member in Schibsted since 2020. Based in Finland.
Number of shares in Schibsted ASA:
Schibsted A-shares: 1,500, Schibsted B-shares: 0.
Hugo Maurstad (born 1965)
Board member
Hugo Maurstad is the Managing Partner of Monte Rosa Capital. Maurstad was a partner in Altor Equity Partners in the period 2004 – 2021. Prior to Altor, he was 13 years with McKinsey & Company as a Sr. Partner, including leading the McKinsey office in Norway. Currently the chair of the boards of Sats, XXL, D-Fetch, and Odlo. Previous chairmanships include Rossignol, Helly Hansen, Lindorff, Ewos, Navico, AGR and SPT. MSc of General Economics from the Norwegian School of Management. Board member in Schibsted from 2021. Based in Norway
Number of shares in Schibsted ASA:
Schibsted A-shares: 110,000, Schibsted B-shares: 0.
Satu Kiiskinen (born 1965)
Board member
Satu Kiiskinen is the Managing Director for Tietoevry Tech Services. Tietoevry is a leading technology company with a strong Nordic heritage and global capabilities. Kiiskinen has worked at Tietoevry since 2013 in different executive positions. Before joining Tietoevry, she worked in various leadership positions with Elisa, BearingPoint, Netigy and KPMG. She is a member of the board at Technology Industries of Finland as well as at The Finland Chamber of Commerce and has been recognized as one of the top tech influencers as well as a female leader in Finland. Kiiskinen holds a master of science (economics) 1992 from Helsinki School of Economics and Business Administration. Board member in Schibsted since 2022. Based in Finland
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 0.
Dr. Ulrike Handel (born 1971)
Board member
Dr. Ulrike Handel has over 25 years of experience from various senior executive positions in digital industries. Dr. Handel served as President News Media Europe and Marketing Media, and member of the executive board of Axel Springer until December 2022. Prior to this, Dr. Handel held various leadership positions in Dentsu International (2017-2022), including the role as CEO of Dentsu Germany and DACH, was CEO & Chairman ad pepper media International N.V (2013-2017), and was a member of the management board of Bertsch Innovation Group. In the period from 2000 – 2011 Dr. Handel held leadership positions in Axel Springer, including the role as Head of the classifieds group, and member of the management board at WELT Group. Dr. Handel earned a doctorate from Amsterdam School of Communications Research (Universiteit van Amsterdam) in 2000. She also holds a degree in media management Department of journalism and communication research at Hannover University of Music and Drama and University of Madison, Wisconsin as well as a degree in Economics/Business Administration from the University of Hannover. Dr. Handel currently sits on the Supervisory Board of Compugroup Medical SE & Co. KGaA, the Administrative Board SPARK SE, and the Advisory Board of Kontora Family Office GmbH. Proposed as Board member in Schibsted from the Annual General Meeting in 2023. Based in Germany.
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 0.
Hans K Mjelva (born 1966)
Employee representative
Journalist in Bergens Tidende (BT) since 2002, covering business, the economy, politics and general news. In 2017, he changed to his current position as a political commentator in BT. He was leader of the Works Council at Schibsted 2018 – 2021, and a member of the Board of directors in BT 2015 – 2021 (employee representative). He has also worked for Gula Tidend, Klassekampen and NRK. Hans K. Mjelva holds a PhD in Business History from the University of Bergen (2005). Board member of Schibsted since June 2021.
Based in Norway.
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 103.
Maria Carling (born 1964)
Employee Representative
Journalist at Svenska Dagbladet since 1993. Deputy head of the division Livet (Life) covering human interest stories and science. Formerly in different positions as a reporter and editor covering culture, business, news etc. Health and safety representative 2013–2021. Carling has previously worked for Dagens Nyheter, Sydsvenska Dagbladet and Trelleborgs Allehanda (all part of the Bonnier media group today). She was chairwoman of the journalist association Publicistklubben’s Hiertanämnd which awards scholarships to journalists 2009–2012. Maria Carling holds a BA in media and communication studies from University of Stockholm, a degree in cultural studies from University of Lund and a French diploma from Université de Perpignan via Domitia, France. Board member of Schibsted since June 2023 and deputy board member of Schibsted since April 2017. Based in Sweden.
Number of shares in Schibsted ASA:
Schibsted A-shares: 0, Schibsted B-shares: 153.
Marita E. Valvik (born 1971).
Employee representative.
Financial Journalist and editor in Aftenposten since 1998. Previously, journalist at Kapital Data (tech monthly 1995-1998). Since 2019, Valvik has been one of three Group Employee Representatives in Schibsted. Returning to Aftenposten in 2023, she is covering retail, especially the food/grocery industries. At Aftenposten, Valvik has worked several stints as a front page editor and as a finance and culture desk editor. She also has ample union experience. From 2015-2019 she was an employee representative on Aftenposten’s board and the vice president in the Aftenposten’s Union of Journalists. Since 2019 she has been a board member of the Norwegian Union of Journalists. From 2000-2005 Valvik established and led the board of a local daycare center in Oslo with 30-25 staff. Valvik holds a Master of Science degree from BI Norwegian Business School (1995). She has been a member of the Schibsted board since 2023. Based in Norway.
Number of shares in Schibsted ASA:
Schibsted A-shares: 122, Schibsted B-shares: 994.
The Group Board’s compensation committee
The compensation committee is a sub-committee to the board and has no decision-making authority. The compensation committee is elected by the group board for one year terms.
The compensation committee prepares matters relating to the group CEO’s remuneration to the board. In addition, the committee assists the board in its work on the philosophy, principles and strategy for the compensation of leading executives in the Schibsted group. The committee also discusses issues related to the succession of key positions in the group. The committee was established in 2004.
It consists of the following members:
- Philippe Vimard (Chair)
- Karl-Christian Agerup
- Hans Kristian Mjelva
- Satu Huber
The Group Board’s audit committee
The audit committee is another sub-committee of the Board and serves as a preparatory and advisory body. The committee primarily assists the board in oversight, monitoring and quality assurance of the following main areas:
- Company’s periodic financial reports, financial statements and other financial information made available to its shareholders
- Group’s financial reporting, accounting, risks and internal controls, and regulatory compliance
- Appointment, performance, and independence of the external auditors
The committee was established in 2007 and its updated mandate reflects the provisions of the newly enacted Norwegian Auditor’s Act of 2021.
The audit committee consists of the following three members who are elected by the Board for a one-year term:
- Rune Bjerke (Chair)
- Satu Kiiskinen
- Dr. Ulrike Handel