RALF SCHMIDT NEW CEO IN SCANARC ASA

Ralf Schmidt is appointed as new CEO in ScanArc ASA. He comes from the position as President for the Norwegian division of Axis Shield.

Ralf Schmidt has a background from the metallurgic industry as well as early phase companies. Additionally, he has extensive experience from turnaround processes and change management.

"Ralf Schmidt has the background and capabilities we have been looking for, and in the Board's opinion, he is the right person to take ScanArc further", says Chairman of the Board, Helge Midttun.

Schmidt was hired by Norsk Hydro from 1996 to 2000. He worked both within the magnesium and the aluminum area during the period, in Norway as well as abroad. His career also includes management experience from McKinsey, Dynal Biotech and Invitrogen, From 2006 he has managed Axis Shield AS.

Ralf Schmidt is a German native and holds a master degree in engineering from Germany. He has additional education in business and finance as well as a PhD in industrial chemistry.

Schmidt will start September 1 or before.

Helge Midttun
Chairman of the Board