Schibsted ASA announced that CEO Kristin Skogen Lund has decided to step down from her position once a successor is found, and that a search for a new CEO will be initiated. Recent milestones under Skogen Lund's leadership are the Adevinta takeover offer and the non-binding agreement to sell Schibsted's news media operations to the Tinius Trust. These strategic transactions are aimed at optimising value for Schibsted and its shareholders, and the sale of the news media operations also implies a significant restructuring of Schibsted into two distinct companies.

The Board of Directors expresses its deep gratitude to Skogen Lund for her commitment, foresight and transformative leadership. The Board will immediately initiate a process to identify Skogen Lund's successor. This process will be conducted with the goal of identifying a leader who can build on Schibsted's strong foundation and guide the company in its new phase.

Subject to final agreements and shareholder approval, Schibsted's current news media businesses and related services will be carved out from Schibsted into a separate company to be owned by the Tinius Trust and headed up by Siv Juvik Tveitnes. After the transaction is completed, Schibsted's remaining businesses will continue as a publicly listed company on Oslo Børs, consisting of the current business areas Nordic Marketplaces, which includes Delivery, and Growth & Investments. Skogen Lund will remain in her role until a new CEO is appointed to ensure a seamless transition and continuity in leadership.