The Board of Directors of XXL ASA (XXL or the Company) has resolved to appoint Pål Wibe to the position as Group CEO of XXL. Mr. Wibe is currently the chief executive officer of Europris ASA, a position he has held since March 2014. Tolle Grøterud, who has served as interim CEO since 18 December 2018, will continue as Investor Relations and Strategy Director in XXL. Board member and founder Øivind Tidemandsen will resume his position as a regular board member and he will serve as an advisor to the management team when and where needed.