[SatNews] ...the Company has expanded into emerging markets in Eastern Europe and Asia, including Montenegro, Bulgaria, Thailand, Pakistan, and recently Myanmar.
The board of Telenor has asked CEO Jon Fredrik Baksaas, who turns 60 years in November, to prolong his contract throughout 2015. Baksaas has accepted.
Telenor Chief Executive Jon Fredrik Baksaas will step down at the end of 2015, and as of January 1, 2016, Baksaas will act as special advisor to Telenor for 12 months, reporting to the board.the board of the Norwegian telecoms firm. This comes after more than a decade of expanding the former state monopoly abroad in search of new markets.
Baksaas who has led the company since 2002, will stay on as an advisor to the board for 12 months, there has not been a successor named.
During Baksaas' tenure Telenor has expanded into emerging markets in Eastern Europe and Asia, including Montenegro, Bulgaria, Thailand, Pakistan, and recently Myanmar. This is to ensure they have other avenues other than the major in Scandinavia.
Several high-level corporate battles have taken place under his leadership, including one with Russian oligarch Mikhail Fridman for the control of telecoms firm VimpelCom.
Baksaas was previously chief financial officer at Telenor.
Mr. Baksaas background includes:
- MSc in Business Administration
- Norwegian School of Economics and Business Administration, Bergen
- studies at IMD, Lausanne, Switzerland
- Formerly: Chief Financial Officer, Aker and Stolt-Nielsen Seaway
Finance Positions include:
- Det Norske Veritas, Norway and Japan.
- Since 1989, with Telenor including: Finance Director; Executive Vice-President; Chief Executive Officer, TBK, a wholly-owned subsidiary; 1994-97, Group Chief Financial Officer
- 1997-2002, Deputy Chief Executive Officers
- Since 2002, current position
Member of the Board: Svenska Handelsbanken; GSM Association; VimpelCom. Member of the Advisory Council, Det Norske Veritas.