New Board of Directors

OSLO, NORWAY – June 27, 2016
Induct AS is pleased to announce that a new Board of Directors was appointed by the General Shareholder Meeting held on June 24 2016. The new Board members are:

Mr. Even Nordstrøm (Chairman) has a long industrial experience at executive levels, including 20 years in the media business during which he also served as CEO in A-pressen and Chairman of the Board in TV2. Prior to that he was consultant in Nexia Management Consulting for 10 years. He is currently Associated partner in First House Media. Mr. Nordstrøm has served in Induct’s Advisory Board for two years prior to his appointment to Chairman of the Board. He is a shareholder in Induct AS.

Mr. Audun Wickstrand Iversen (Board member) is Board member in Opera ASA since 2008 and Chairman of the Board at NextGenTel Holding ASA since 2015. He has also been in the Board of Mamut ASA. He has been working as a telecom and IT analyst and asset portfolio manager for 12 years with DNB, a leading Norwegian investment bank. Prior to that, he worked for the national telecom regulatory authorities. In 2012, Mr. Iversen Co-founded the renewable energy company EAM Solar where he served as CEO until December 2015. Mr. Iversen is a shareholder in Induct AS.

Mr. Øivind Oberg Magnussen (Board member) is a serial entrepreneur with a long track record in building international digital businesses. He worked 8 years in New York from 1992–2000 within the Investment Banking Industry and was part of establishing DNB Securities' office in NY. From 2000 and until now he has been starting up different technology companies outside Norway.  Opticore, a company doing 3D rendering software for the Manufacturing Industry was sold to Autodesk in 2006. He has started multiple digital businesses in the US/Canada.  One example is Speedmedia, a company doing distribution, asset management and post-production of digital content for global brands.

As part of the changes in the Board, the former Chairman, Mr. Åge Muren, will step out of the Board to facilitate a clearer distinction between the Board and the Management. He will continue as CFO for Induct. Mr. Alf Martin Johansen (founder and CEO) will continue as Board Member for a limited time to ensure continuity, but will also step out of the Board to complete the distinction between the Board and the Management.

“We are very pleased to have strengthened our Board of Directors with a unique combination of industrial experience, capital market expertise and international digital entrepreneurship. This will contribute to our further development and international growth” said Alf Martin Johansen, CEO of Induct.”

For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
47 90 17 94 35
amj@inductsoftware.com

About Induct
Based on eight years of collaboration with over 250 organizations, Induct offers innovation communities, delivered as "Software as a Service," that enable organizations to create, manage, track and measure the innovation process from idea creation through to final implementation and impact reporting. Induct enables its customers to connect with each other in larger networks to share best practices, while deploying and monetizing initiatives - all within a secure, collaborative, and access-controlled cloud-based network. Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.

Induct: “Connecting Innovation Communities™”

Posted on June 27, 2016 and filed under Company news, Stock announcements, Investor relations.