Thomas Falck appointed CEO

«Q-Free has leading competencies, technologies and market positions that form a strong basis for growth and value creation. However, the company operates in a challenging market that requires changes and a new approach if we are to exploit the company’s full potential and reach the ambitious targets we have set for ourselves. We thank Øyvind Isaksen for his valuable contributions during his seven year tenure as CEO, when the company has taken important steps in its internationalisation and technology development. We believe Q-Free has great development potential going forward, and in Thomas Falck we have a leader who can take over the reins from day one,” says Terje Christoffersen, Chairman of the Board in Q-Free ASA.

Thomas Falck has initially accepted a six-month employment contract, and the Board will immediately start a process to evaluate also other candidates for the position on a permanent basis.

Thomas Falck (47) was educated at the Norwegian Naval Academy and the Norwegian Defense University College, and holds an MBA from Darden School of Business Administration at the University of Virginia. He has leadership experience as a Naval Officer, from Gemini Consulting, and as CEO of the global IT software company Visma Marine ASA until the company was sold in 2000. Falck was later one of five equal partners in Verdane Capital (formerly Four Seasons Venture), where he among other was responsible for the privatisation and further development of SND Invest. In 2008, he started the investment and consulting firm Agenda Capital.

Falck also has broad experience from Board representation in both privately held and publicly listed companies and is currently a Board member in among other Kongsberg Automotive ASA and Vizrt ASA. Falck was in May 2013 elected into the Board of Q-Free ASA but steps down as a consequence of the appointment as CEO. The Board of Directors of Q-Free will continue with the remaining four shareholder-elected and two employee-elected members until the ordinary General Meeting in May 2014.

Falck has 13.483 shares in Q-Free ASA through the ownership of Sølen AS.

For further information, please contact:

Chairman of the Board Terje Christoffersen, cell: +47 928 29 500

CEO Thomas Falck, cell: +47 474 00 520