Pal Svenkerud is appointed acting Chief Executive Officer of Bank Norwegian AS and Norwegian Finans Holding ASA from and including January 20, 2017, since the current Chief Executive Officer, Erik Jensen, shortly will step down from his position. Pal Svenkerud has had the position as Chief Financial Officer of Bank Norwegian since its inception in 2007. He will act as Chief Financial Officer of Bank Norwegian and Chief Executive Officer of both companies until new Chief Executive Officer has taken position.