Pexip Announces Change of CEO

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The board of directors of Pexip Holding ASA has appointed the company’s CFO, Øystein Hem, as interim CEO. Pexip’s current CEO, Odd Sverre Østlie, will leave the company — but Pexip says he “will be available at the company’s discretion for a period to come.”

“Odd Sverre Østlie has led the company through a merger and significant growth, headed the highly successful IPO in 2020, and expanded an already great team with lots of new talent,” said Michel Sagen, chair of the board of Pexip, and continued, “The rapid growth of Pexip will fundamentally change the company over the coming years. The board and Odd Sverre are aligned with regards to Pexip’s strategy but have different views on the approach going forward. Thus, the board and Odd Sverre have agreed that the timing is right for a new CEO. The board would like to thank Odd Sverre for the great results and wish him the best of luck in future endeavors”.

“It has been a privilege to lead Pexip over the past years. We have built an exceptional technology platform, earning us the trust of some of the world’s largest enterprise and government organizations. At the same time, we have built an excellent, global team with a culture that is unique in the industry, and I am confident that the team will continue to drive further success. In short, I remain extremely confident in Pexip’s future and wish the team the best of luck,” said Mr.Østlie.

The Pexip board will now initiate a succession process. Meanwhile, CFO Øystein Hem has agreed to take on the role of interim CEO with immediate effect. Hem joined Pexip in 2018.

“The board is pleased that Øystein has accepted the interim CEO position. He has already demonstrated outstanding performance as CFO. Øystein and the management team have the drive and skills to propel the company forward – both along the outlined strategic trajectory and towards the ARR target of USD 300 million by the end of 2024,” said Sagen.