Rune Selmar resigns as CEO at ODIN Fund Management

Rune Selmar has chosen to resign from the position as CEO at ODIN Fund Management. This came forth in a board meeting on tuesday 17. September.

– It has been a pleasure to lead ODIN for the last seven years. Tomorrow I turn 60, and it’s a time for everything. I am proud of what we have achieved together in my time at the company, and I will from now of contribute so that the change in leadership will go as good as possible, says Rune Selmar.

Rune Selmar has been CEO of ODIN Forvaltning since 2012. When he joined, the company was already part of the SpareBank 1 Group and was to be adapted to the role of a bank owned fund company.

– The board thanks Rune Selmar for doing a great job. He has succeeded in building ODIN into a profitable company that has grown its market share considerable, but the fund industry now faces many new challenges. Selmar himself asked to resign, and the board respects this decision. We will now find a new leader who can take ODIN one step further, says chairman of ODIN Management Joachim Høegh-Krohn.

SpareBank 1 Gruppen will still utilize Selmar:s expertise through his new position as advisor to the group management.

The investment strategy stands firm
ODIN Forvaltning has been an active, responsible and long-term fund manager since 1990. The company follows a clear working methodology and investment philosophy. This will not change with a change of leadership, says Investment Director Vegard Søraunet.

– Our investment strategy stands firm, and we have offensive ambitions for growth in the years ahead. Rune Selmar has been central to laying the foundations for this, and we will now build on the good work that already has been done, says Søraunet.

Acting CEO
Bjørn Kristiansen, deputy chairman of the board of ODIN Forvaltning and day-to-day in the management of Sparebank 1 Nord-Norge, was appointed at the board meeting as CEO of ODIN Forvaltning from 18. September. Kristiansen has previously led SpareBank1 Nord-Norge Securities ASA and SNN Markets, among others, and has considerable experience from the financial market. He graduated with a degree in economics and business administration in 1990 and is 53 years old.