Otovo Management

Management criteria checks 1/4

Otovo's CEO is Andreas Thorsheim, appointed in Jan 2016, has a tenure of 8.42 years. directly owns 3.08% of the company’s shares, worth €1.22M. The average tenure of the management team and the board of directors is 2.2 years and 2.7 years respectively.

Key information

Andreas Thorsheim

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	8.4yrs
CEO ownership	3.1%
Management average tenure	2.2yrs
Board average tenure	2.7yrs

Recent management updates

Recent updates

CEO

Andreas Thorsheim

8.4yrs

Tenure

Mr. Andreas Egge Thorsheim is a Co-Founder of Otovo ASA in January 2016 and serves its Chief Executive Officer since January 2016. Mr. Thorsheim serves as Chairman of the Board at European Distributed Ener...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Andreas Thorsheim	Co-Founder & CEO	8.4yrs	no data	3.08% NOK 1.2m
Simen Jorgensen	Co-Founder & Chief Product Officer	8.4yrs	no data	no data
Petter Ulset	Chief Financial Officer	2.3yrs	no data	no data
Michal Karnibad	Chief Operating Officer	1.8yrs	no data	no data
Lars Ekeland	General Counsel	3.7yrs	no data	0.063% NOK 25.0k
Sacha Berson	Chief Marketing Officer	less than a year	no data	no data
Pal Hvattum	Chief Business Officer	2.2yrs	no data	no data
Paulina Ackermann	MD of Poland	2.2yrs	no data	no data
Inigo Amoribieta	MD of Spain	2.2yrs	no data	no data
Mette Rye-Larsen	Group Head of Sustainability	no data	no data	no data
Fabio Stefanini	MD of Germany	no data	no data	no data
Jean Rosado	MD of France	no data	no data	no data

2.2yrs

Average Tenure

Experienced Management: 89K's management team is considered experienced (2.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Peter Mellbye	Independent Chairperson of the Board	7.3yrs	no data	0.045% NOK 17.9k
Tor Repstad	Independent Director	7.8yrs	no data	no data
Jacob Wall	Independent Director	less than a year	no data	no data
Ingunn Randa	Independent Director	6yrs	no data	no data
Josefin Landgard	Independent Director	3.2yrs	no data	0.033% NOK 12.9k
Stine Halla	Independent Director	2.2yrs	no data	no data
Zoe Wyon	Employee Representative Director	less than a year	no data	no data
Matteo Ciprandi	Employee Representative Director	less than a year	no data	no data

2.7yrs

Average Tenure

51yo

Average Age

Experienced Board: 89K's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.

Otovo Management

Management criteria checks 1/4

Key information

Recent management updates

High number of new directors

Otovo ASA, Annual General Meeting, Apr 17, 2024

Otovo ASA Appoints Sacha Berson as CMO

High number of new directors

High number of new directors

Otovo ASA Appoints New Employee Representatives to the Board of Directors

Recent updates

No longer forecast to breakeven

Otovo ASA to Report Q1, 2024 Results on May 02, 2024

High number of new directors

Full year 2023 earnings released: kr2.43 loss per share (vs kr2.47 loss in FY 2022)

Forecast to breakeven in 2026

No longer forecast to breakeven

Otovo ASA has completed a Follow-on Equity Offering in the amount of NOK 60.03 million.

Otovo ASA to Report Q3, 2024 Results on Oct 24, 2024

Otovo ASA, Annual General Meeting, Apr 17, 2024

New major risk - Shareholder dilution

Forte PV S.à.r.l completed the acquisition of European Distributed Energy Assets AS and European Distributed Energy Assets AB from Otovo ASA (OB:OTOVO).

Otovo ASA has filed a Follow-on Equity Offering in the amount of NOK 449.999998 million.

No longer forecast to breakeven

Third quarter 2023 earnings released

No longer forecast to breakeven

Otovo ASA Appoints Sacha Berson as CMO

High number of new directors

High number of new directors

Second quarter 2023 earnings released: kr0.60 loss per share (vs kr0.42 loss in 2Q 2022)

Otovo ASA Appoints New Employee Representatives to the Board of Directors

Forecast to breakeven in 2025

High number of new directors

First quarter 2023 earnings released: kr0.40 loss per share (vs kr0.64 loss in 1Q 2022)

High number of new directors

No longer forecast to breakeven

No longer forecast to breakeven

No independent directors

Otovo ASA to Report First Half, 2023 Results on Jul 13, 2023

Otovo ASA announced that it expects to receive NOK 200.000016 million in funding from Axel Johnson AB, Agder Energi Venture AS, OBOS Eiendom AS, Nysnø

Gera Brasil Tecnologia Ltda. acquired 34% stake in Holu Technologia SA from Otovo ASA.

Gera Brasil Tecnologia Ltda. acquired 34% stake in Holu from Otovo ASA.

No independent directors

No independent directors

Third quarter 2022 earnings released: kr0.58 loss per share (vs kr0.37 loss in 3Q 2021)

No independent directors

No independent directors

Otovo ASA Appoints Michal Karnibad as Chief Operating Officer

Otovo Group Elects Julie Orzechowski as New Employee Representative at its Board of Directors, Effective July 1, 2022

No independent directors

Otovo AS Approves the Election of Stine Halla as Board Member

Otovo Announces New Management Structure

Full year 2021 earnings released: kr1.64 loss per share (vs kr1.10 loss in FY 2020)

No independent directors

No independent directors

Otovo AS announced that it expects to receive NOK 300 million in funding

Otovo AS Appoints Petter Ulset as Chief Financial Officer, Effective March 1, 2022

Otovo AS to Report Q3, 2022 Results on Oct 27, 2022

Co-Founder recently bought €417k worth of stock

No independent directors

Otovo AS (OB:OTOVO) completed the acquisition of remaining 81.36% stake in European Distributed Energy Assets Holding AS (OTCNO:EDEA).

Investor sentiment improved over the past week

No independent directors

Second quarter 2020 earnings released

Co-Founder recently bought €13k worth of stock

Otovo AS Announces Executive Changes

Otovo AS Announces Management Changes

CEO

Tenure

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age