Bo Askvik, president and CEO of Nynas, has informed the company’s board that he has decided to leave his position after eight years with the company. The board has appointed Stein Ivar Bye interim CEO. Nynas reports that Askvik has decided to step down after successfully leading the company through sanctions, COVID-19, the completed reorganization, and refinancing.

“It has been a pleasure and a privilege to lead the company during these years and to work with so many dedicated and talented colleagues,” Askvik said. “I am very proud of what we have achieved together, during these years filled with unprecedented challenges for Nynas. Now is the right time for me to hand over the responsibility of leading Nynas. With the reorganisation finally completed in January and the refinancing concluded in April, Nynas will now start a journey of change to become an even stronger company for the benefit of all stakeholders and society.”

Askvik remains chairman of the Nynas Foundation (Nynässtiftelsen), as well as a shareholder in Nynas, and will thereby support the company’s continued development. The board has commenced a search for a new CEO. Ivar Bye, recently appointed chairman of the board at the annual general meeting, will manage the CEO duties on an interim basis until a permanent CEO has been appointed.

Ivar Bye has experience from numerous executive positions in ExxonMobil. He previously served as chief operating officer at Preem AB and CEO at Essar Oil UK. He has been a member of the Nynas board since August 2021.

“It has been a privilege to be a part of the Nynas Board since August 2021 and I feel honoured to be selected as Chairman of the Board and interim CEO,” Ivar Bye said. “I am looking forward to work with the rest of the Board and Nynas stakeholders in the next chapter of the company. Nynas has proven its resilience in a changing environment close to 100 years. This is a testament to the commitment of the Nynas organisation and I am very excited to be a part of the journey ahead.”

For more information, visit www.nynas.com.