FORNEBU, Norway -- Richard Olav Aa has been appointed Executive Vice President and Chief Financial Officer (CFO) in Telenor. He will be responsible for Telenor's financial management and be part of the Group Executive Management. Richard Olav Aa is today Investment Director of Arendals Fossekompani ASA.

"I am very pleased that Richard Olav Aa has accepted to take on the position as CFO in Telenor with the responsibility for the financial management of the group's global operations. He will contribute with new perspectives and experiences in an important discipline, while at the same continue to manage the group's accomplished financial control systems," says Jon Fredrik Baksaas, CEO and President of the Telenor Group. "Operational focus and good financial governance is one of the characteristics of Telenor and Richard Olav Aa is a highly qualified leader that will contribute to a continued strong position in this field," said Jon Fredrik Baksaas.

Telenor Group (Nasdaq: TELN)