Telenor CEO Sigve Brekke to step down

Telenor Group said Sigve Brekke will be stepping down as President & CEO of Telenor – on December 1st — after more than 9 years.
Telenor CEO Sigve BrekkeBenedicte Schilbred Fasmer as new President & CEO of Telenor Group.

Sigve Brekke has been CEO of Telenor since August 2015. Since Sigve Brekke’s commencement date, Telenor has outperformed the S&P European Telecommunications index by 50 percent on a dividend-adjusted basis.

“Congratulations to the board on having found a good successor. Benedicte is taking on one of the most exciting and challenging CEO positions in Norway. I’ve had fun at work every single day, and it is a great privilege to be CEO of an organization like Telenor, with so many talented employees,” Sigve Brekke said.

Telenor is the only operator with a solid footprint in all Nordic markets and has delivered 5 percent mobile service revenue growth in the Nordic region for six consecutive quarters.

Benedicte Schilbred Fasmer is currently the CEO in SpareBank 1 SR-Bank, which is in the process of executing on the largest Norwegian banking merger in 25 years.  She has previously been a Group EVP of the insurance company Fremtind Forsikring and a Group EVP in DNB Bank as Head of Corporate Banking.