Storebrand Management

Management criteria checks 3/4

Storebrand's CEO is Odd Grefstad, appointed in Jun 2012, has a tenure of 11.92 years. total yearly compensation is NOK10.57M, comprised of 82.5% salary and 17.5% bonuses, including company stock and options. directly owns 0.06% of the company’s shares, worth €2.39M. The average tenure of the management team and the board of directors is 2 years and 2.2 years respectively.

Key information

Odd Grefstad

Chief executive officer

kr10.6m

Total compensation

CEO salary percentage	82.5%
CEO tenure	11.9yrs
CEO ownership	0.06%
Management average tenure	2yrs
Board average tenure	2.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Odd Grefstad's remuneration changed compared to Storebrand's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	kr3b
Dec 31 2023	kr11m	kr9m	kr3b
Sep 30 2023	n/a	n/a	kr3b
Jun 30 2023	n/a	n/a	kr3b
Mar 31 2023	n/a	n/a	kr2b
Dec 31 2022	kr10m	kr8m	kr2b
Sep 30 2022	n/a	n/a	kr3b
Jun 30 2022	n/a	n/a	kr3b
Mar 31 2022	n/a	n/a	kr4b
Dec 31 2021	kr9m	kr8m	kr3b
Sep 30 2021	n/a	n/a	kr3b
Jun 30 2021	n/a	n/a	kr3b
Mar 31 2021	n/a	n/a	kr3b
Dec 31 2020	kr9m	kr7m	kr2b
Sep 30 2020	n/a	n/a	kr2b
Jun 30 2020	n/a	n/a	kr2b
Mar 31 2020	n/a	n/a	kr2b
Dec 31 2019	kr8m	kr7m	kr2b
Sep 30 2019	n/a	n/a	kr3b
Jun 30 2019	n/a	n/a	kr3b
Mar 31 2019	n/a	n/a	kr3b
Dec 31 2018	kr8m	kr7m	kr4b
Sep 30 2018	n/a	n/a	kr2b
Jun 30 2018	n/a	n/a	kr2b
Mar 31 2018	n/a	n/a	kr3b
Dec 31 2017	kr8m	kr7m	kr2b

Compensation vs Market: Odd's total compensation ($USD951.83K) is below average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: Odd's compensation has been consistent with company performance over the past year.

CEO

Odd Grefstad (58 yo)

11.9yrs

Tenure

kr10,565,000

Compensation

Mr. Odd Arild Grefstad has been Chief Executive Officer of Storebrand ASA since June 1, 2012 and also served as its Managing Director. Mr. Grefstad served as the Chairman of the Board of Directors at Skage...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Odd Grefstad	Group Chief Executive Officer	11.9yrs	kr10.57m	0.060% NOK 2.4m
Lars Loddesol	Group CFO & Executive VP of Sustainability	13.2yrs	kr8.00m	0.039% NOK 1.6m
Tove Selnes	Executive Vice President of People	4.8yrs	kr4.56m	0.0097% NOK 386.0k
Jan Saugestad	Executive Vice President of Storebrand Asset Management	1.2yrs	kr9.08m	0.032% NOK 1.3m
Trygve Hakedal	Executive Vice President of Digital	2.3yrs	kr5.61m	0.0093% NOK 372.0k
Jenny Rundbladh	Executive Vice President of SPP	1.8yrs	kr6.19m	0.0013% NOK 53.6k
Vivi Gevelt	Executive Vice President of Corporate	1.8yrs	kr5.48m	0.0019% NOK 74.0k
Camilla Leikvoll	Executive VP of Retail & Senior VP of Storebrand Bank ASA	1.3yrs	kr3.51m	0.0029% NOK 115.2k
Daniel Sundahl	Head of Investor Relations & Rating	no data	no data	no data
Faisal Khan	Senior VP and Head of M&A	no data	no data	no data
Johannes Narum	Strategy and IR Executive	no data	no data	no data

2.0yrs

Average Tenure

50yo

Average Age

Experienced Management: SKT's management team is considered experienced (2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Terje Venold	Chairman of the Board of Representatives	no data	no data	no data
Rune Pedersen	Observer and Member of Board of Representatives	no data	no data	no data
Christel Borge	Independent Director	3.1yrs	kr454.00k	0.0025% NOK 99.2k
Viveka Ekberg	Independent Director	less than a year	no data	no data
Hans-Petter Bache-Salvesen	Employee Representative Director	4.3yrs	kr446.00k	no data
Jaan Gjærum Semlitsch	Independent Director	less than a year	no data	no data
Jarle Roth	Independent Chairman of the Board	1.1yrs	kr380.00k	0.0020% NOK 81.2k
Martin Skancke	Independent Vice Chairman of the Board	9.7yrs	kr989.00k	0.0079% NOK 316.0k
Benjamin Golding	Independent Director	less than a year	no data	no data
Hanne Grave	Employee Representative Director	3.3yrs	kr511.00k	0.00026% NOK 10.4k
Marianne Roren	Independent Director	3.9yrs	kr524.00k	0.0018% NOK 72.0k
Svein Lomork	Employee Representative Director	1.3yrs	kr325.00k	0.00023% NOK 9.2k

2.2yrs

Average Tenure

55yo

Average Age

Experienced Board: SKT's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

Storebrand Management

Management criteria checks 3/4

Key information

Recent management updates

High number of new directors

Independent Director recently bought €1.5m worth of stock

High number of new directors

Insider recently bought €1.4m worth of stock

Group Chief Executive Officer recently bought €51k worth of stock

Storebrand ASA Announces Managing Director Changes

Recent updates

High number of new directors

Storebrand ASA (OB:STB) commences an Equity Buyback Plan for 44,797,268 shares, representing 9.62% of its issued share capital, under the authorization approved on April 4, 2024.

First quarter 2024 earnings released: EPS: kr2.03 (vs kr2.25 in 1Q 2023)

Storebrand ASA Announces Cash Dividend for the Year 2023

Upcoming dividend of kr4.10 per share

Full year 2023 earnings released: EPS: kr7.31 (vs kr5.07 in FY 2022)

Dividend of kr4.10 announced

Full year 2023 earnings released: EPS: kr7.37 (vs kr5.07 in FY 2022)

Storebrand ASA Proposes Cash Dividend, Payable from 16 April 2024

Storebrand ASA to Report Fiscal Year 2023 Final Results on Mar 14, 2024

Storebrand ASA to Report Q3, 2024 Results on Oct 23, 2024

Third quarter 2023 earnings released: EPS: kr1.25 (vs kr0.76 in 3Q 2022)

ERGO International AG signed an agreement to acquire a 50% stake in Storebrand Helseforsikring AS from Storebrand ASA.

Independent Director recently bought €1.5m worth of stock

Second quarter 2023 earnings released: EPS: kr1.75 (vs kr0.87 in 2Q 2022)

High number of new directors

Now 22% undervalued after recent price drop

Insider recently bought €1.4m worth of stock

Upcoming dividend of kr3.70 per share at 4.5% yield

Full year 2022 earnings released: EPS: kr5.07 (vs kr6.68 in FY 2021)

Now 22% undervalued after recent price drop

Full year 2022 earnings released: EPS: kr5.07 (vs kr6.68 in FY 2021)

Storebrand Asa Proposes Ordinary Dividend for 2022, Payable from 25 April 2023

Storebrand ASA to Report Q1, 2023 Results on May 10, 2023

Third quarter 2022 earnings released: EPS: kr0.82 (vs kr1.28 in 3Q 2021)

Group Chief Executive Officer recently bought €51k worth of stock

Storebrand ASA (OB:STB) entered into an agreement to acquire Kron As.

Storebrand ASA (OB:STB) entered into an agreement to acquire Kron As.

Storebrand ASA Announces Managing Director Changes

Group Chief Executive Officer recently bought €52k worth of stock

Second quarter 2022 earnings released: EPS: kr0.87 (vs kr2.51 in 2Q 2021)

High number of new directors

Storebrand ASA Announces Managing Director Changes

First quarter 2022 earnings released: EPS: kr1.88 (vs kr0.94 in 1Q 2021)

Storebrand ASA to Report Q4, 2022 Results on Feb 08, 2023

High number of new directors

Storebrand ASA Elects Lars Jansen Viste as Member of Nomination Committee

Upcoming dividend of kr3.50 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Storebrand ASA Proposes Cash Dividend, Payable from 21 April 2022

Storebrand ASA agreed to acquire Pension Operations of Danica Pension from Danica Pension, Livsforsikringsaktieselskab.

Third quarter 2021 earnings released: EPS kr1.28 (vs kr1.63 in 3Q 2020)

High number of new directors

Storebrand ASA (OB:STB) completed the acquisition of Capital Investment.

Independent Director recently bought €19k worth of stock

Second quarter 2021 earnings released: EPS kr2.51 (vs kr0.96 in 2Q 2020)

Fabritius Gruppen AS agreed to acquire Værdalsbruket AS from Storebrand ASA (OB:STB).

Independent Director has left the company

Upcoming dividend of kr3.25 per share

Full year 2020 earnings released: EPS kr5.02 (vs kr4.43 in FY 2019)

Storebrand ASA Proposes Dividend for the Year 2020

Group Chief Executive Officer recently bought €170k worth of stock

Storebrand ASA to Report Q3, 2022 Results on Oct 26, 2022

New 90-day high: €6.89

Full year 2020 earnings released: EPS kr5.02 (vs kr4.43 in FY 2019)

New 90-day high: €6.36

Storebrand ASA, Annual General Meeting, Apr 08, 2021

New 90-day high: €5.58

Market bids up stock over the past week

Third quarter earnings released

Storebrand ASA to Report Q4, 2009 Results on 02/17/2010

Vestland County Chooses Storebrand as New Pension Provider

New 90-day low: €4.38

Storebrand ASA to Report Q1, 2021 Results on Apr 28, 2021

CEO Compensation Analysis

CEO

Tenure

Compensation