Otello Corporation ASA ("The Company") today announces that Petter Lade is
stepping down as CFO.
Petter Lade, who has been with the company since 2006 and been CFO since 2017,
has given notice to take up a CFO position outside the company. He will continue
in his current role until the end of December.
"Petter has been an outstanding CFO for Otello. His leadership and experience
has been instrumental in helping us in many areas, including the completion of
the IPO of Bemobi in Brazil and the turn-around and subsequent sale of AdColony
for $400 million. During Petter's tenure as CFO, Otello has deleveraged the
balance sheet, making us debt-free, and returned over 2 billion NOK to our
shareholders through dividends and share buybacks. We wish him all the best in
his new endeavors", says Lars Boilesen, CEO of Otello.