Lindorff Group announced today that Trond Brandsrud, the Group’s current Chief Financial Officer (CFO), has accepted the position as Chief Executive Officer (CEO) / Hold Separate Manager of the group of companies to be carved out of the combination of Intrum Justitia and Lindorff.
The announcement follows this week’s decision of the European Commission to approve the combination of Intrum Justitia and Lindorff. The Commission’s decision is conditional upon the divestment of Lindorff’s entire business in Denmark, Estonia, Finland and Sweden as well as Intrum Justitia’s entire business in Norway (see press release dated May 18, 2017 for more information).
Lars Hjarrand, currently Finance Director of Lindorff Norway, will join Brandsrud as CFO of the Carve-Out Business.
The five entities will, in accordance with the conditions set by the Commission, be sold to one buyer. These entities were separated from the combined company on June 12, 2017.
The appointment of Trond Brandsrud is effective immediately. In the interim, André Adolfsen, SVP Group Controlling will be Acting CFO of Lindorff.
About Trond Brandsrud
Trond Brandsrud joined Lindorff in 2016. Brandsrud came to Lindorff from Aker ASA where he was Chief Financial Officer of Aker. Prior to Aker he held the CFO position with Seadrill as well as several key local and international finance positions over a period of more than 20 years at Shell. Trond has served as non-executive director in several listed as well as privately owned companies. He holds an MSc degree in Finance and Business Administration from the Norwegian School of Economics (NHH).
About André Adolfsen
André Adolfsen joined Lindorff in 2013. He is currently the SVP Group Controlling. Prior to becoming SVP, André held several roles within Lindorff including Director Investor Relations and Project Lead for the set up of Lindorff’s Business Centre. André came to Lindorff from Nordea Markets where he was Senior Equity Analyst. He holds an MSc degree in Finance from Copenhagen Business School.
About Lars Hjarrand
Lars Hjarrand joined Lindorff in 2009. He is currently the Finance Director of Lindorff Norway. Prior to joining Lindorff he held several controller and finance-related roles in U.S. and Norwegian businesses, including Medtronic and Ecolab, both Fortune 500 companies. He holds an MBA in Finance from Carlson School of Management, Minnesota USA.
Lindorff has been in the business of helping people manage credit for over 100 years. Its headquarters are located in Oslo, Norway, the same city as Eynar Lindorff founded the company back in 1898. Today it has 4,400 people in 12 countries across Europe helping customers back to a life of sustainable spending. Nordic Capital Fund VIII is a majority shareholder in the company which offers services within debt collection and debt purchase as well as payment and invoicing services. In 2016 Lindorff generated EUR 647 million in net revenue (2015 EUR 534 million). For further information, please visit www.lindorff.com