Telenor Management

Management criteria checks 2/4

Telenor's CEO is Sigve Brekke, appointed in Aug 2015, has a tenure of 8.67 years. total yearly compensation is NOK16.59M, comprised of 45.2% salary and 54.8% bonuses, including company stock and options. directly owns 0.013% of the company’s shares, worth €1.94M. The average tenure of the management team and the board of directors is 3.9 years and 0.9 years respectively.

Key information

Sigve Brekke

Chief executive officer

kr16.6m

Total compensation

CEO salary percentage	45.2%
CEO tenure	8.7yrs
CEO ownership	0.01%
Management average tenure	3.9yrs
Board average tenure	less than a year

Recent management updates

Recent updates

CEO Compensation Analysis

How has Sigve Brekke's remuneration changed compared to Telenor's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	kr17m	kr8m	-kr5b
Sep 30 2023	n/a	n/a	kr8b
Jun 30 2023	n/a	n/a	kr6b
Mar 31 2023	n/a	n/a	kr4b
Dec 31 2022	kr16m	kr7m	kr10b
Sep 30 2022	n/a	n/a	kr4b
Jun 30 2022	n/a	n/a	kr6b
Mar 31 2022	n/a	n/a	kr9b
Dec 31 2021	kr15m	kr7m	kr6b
Sep 30 2021	n/a	n/a	kr15b
Jun 30 2021	n/a	n/a	kr17b
Mar 31 2021	n/a	n/a	kr17b
Dec 31 2020	kr15m	kr7m	kr14b
Sep 30 2020	n/a	n/a	kr10b
Jun 30 2020	n/a	n/a	kr5b
Mar 31 2020	n/a	n/a	kr5b
Dec 31 2019	kr15m	kr7m	kr9b
Sep 30 2019	n/a	n/a	kr4b
Jun 30 2019	n/a	n/a	kr8b
Mar 31 2019	n/a	n/a	kr8b
Dec 31 2018	kr16m	kr7m	kr9b
Sep 30 2018	n/a	n/a	kr12b
Jun 30 2018	n/a	n/a	kr14b
Mar 31 2018	n/a	n/a	kr11b
Dec 31 2017	kr14m	kr7m	kr10b

Compensation vs Market: Sigve's total compensation ($USD1.51M) is below average for companies of similar size in the German market ($USD5.57M).

Compensation vs Earnings: Sigve's compensation has increased whilst the company is unprofitable.

CEO

Sigve Brekke (64 yo)

8.7yrs

Tenure

kr16,594,000

Compensation

Mr. Sigve Brekke has been the Group Chief Executive Officer and President of Telenor ASA since August 17, 2015. Mr. Brekke served as the Chief Executive Officer of Total Access Communication Public Company...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Sigve Brekke	President & Group CEO	8.7yrs	kr16.59m	0.013% NOK 1.9m
Tone Bachke	Executive VP & CFO	3.9yrs	kr7.87m	no data
Amol Phadke	Executive VP & CTO	less than a year	kr8.77m	no data
Rita Skjaervik	Executive VP and Chief People	no data	kr5.38m	no data
Petter-Boerre Furberg	Executive VP & Head of Asia	7.4yrs	kr9.78m	0.0050% NOK 745.7k
Jorgen C. Rostrup	Executive VP & Head of Nordics	3.9yrs	kr13.12m	no data
Dan Ouchterlony	EVP & Head of Telenor Amp	1.6yrs	kr9.24m	no data
Jannicke Hilland	EVP & Head of Telenor Infrastructure	1.5yrs	kr6.74m	no data
Marianne Moe	Head of Investor Relations	no data	no data	no data
Siri Birgitte Berge	General Counsel	no data	no data	no data
Atle Lessum	Acting Senior VP & Head of Communications	no data	no data	no data
Johan Rostoft	Head of Online Marketplaces	no data	no data	no data

3.9yrs

Average Tenure

53.5yo

Average Age

Experienced Management: TEQ's management team is considered experienced (3.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Pieter Knook	Director	3.9yrs	kr782.00k	no data
Ottar Ertzeid	Director	less than a year	kr361.00k	no data
Jan Geldmacher	Director	less than a year	kr387.00k	0.00010% NOK 14.9k
Nils Bastiansen	Chair of the Corporate Assembly	less than a year	no data	no data
Irene Vold	Employee Representative Director	2.9yrs	kr497.00k	0.00035% NOK 52.1k
Jens Olsen	Chairman	less than a year	kr702.00k	0.0029% NOK 430.2k
Gyrid Ingerø	Deputy Chair of the Board	less than a year	kr346.00k	no data
Astrid Simonsen Joos	Director	3.9yrs	kr582.00k	no data
Esben Smistad	Employee Representative Director	less than a year	kr320.00k	no data
Marianne Roren	Deputy Chair of Corporate Assembly	5.3yrs	no data	no data
Nina Bjornstad	Director	1.9yrs	kr561.00k	no data
Sune Jakobsson	Employee Representative Director	less than a year	kr287.00k	0.00040% NOK 59.5k

0.9yrs

Average Tenure

58yo

Average Age

Experienced Board: TEQ's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.

Telenor Management

Management criteria checks 2/4

Key information

Recent management updates

Telenor ASA Announces Chief Financial Officer Changes

Telenor ASA Announces Management Changes

Insider recently bought €393k worth of stock

Telenor ASA Elects Jens Petter Olsen as Chair of the Board of Directors

Telenor ASA Announces Board Changes

No independent directors

Recent updates

Telenor ASA Announces Chief Financial Officer Changes

Full year 2023 earnings released: kr3.52 loss per share (vs kr6.92 profit in FY 2022)

Final dividend of kr5.00 announced

Full year 2023 earnings released: kr3.52 loss per share (vs kr7.85 profit in FY 2022)

Telenor Asa Proposes Total Dividend for the Financial Year 2023, Payable on 22 May 2024 and 29 October 2024

Telenor ASA to Report Q3, 2024 Results on Oct 30, 2024

Upcoming dividend of kr4.40 per share at 7.8% yield

Telenor ASA Announces Management Changes

Cisco Systems, Inc. agreed to acquire a 44.6% stake in Working Group Two AS from Telenor ASA.

Now 21% undervalued after recent price drop

New major risk - Revenue and earnings growth

New major risk - Financial position

Second quarter 2023 earnings released: EPS: kr0.69 (vs kr0.12 loss in 2Q 2022)

Insider recently bought €393k worth of stock

Telenor ASA Elects Jens Petter Olsen as Chair of the Board of Directors

First quarter 2023 earnings released: kr0.44 loss per share (vs kr4.94 profit in 1Q 2022)

Telenor ASA Announces Board Changes

Upcoming dividend of kr5.00 per share at 7.2% yield

Full year 2022 earnings released: EPS: kr7.85 (vs kr4.04 in FY 2021)

Full year 2022 earnings released: EPS: kr8.00 (vs kr5.92 in FY 2021)

Telenor ASA Proposes Dividend for the Year 2022

A consortium led by KKR & Co. Inc. (NYSE:KKR) and Oslo Pensjonsforsikring AS completed the acquisition of 30% stake in Passive fibre assets from Telenor ASA (OB:TEL) for NOK 10.8 billion.

Yoma MFS Holdings Pte. Ltd. completed the acquisition of Digital Money Myanmar Limited from Telenor ASA (OB:TEL).

No independent directors

Telenor ASA to Report Q4, 2022 Results on Feb 02, 2023

Telenor Reportedly Seeks Exits from Pakistan

President & Group CEO recently bought €70k worth of stock

Third quarter 2022 earnings released: EPS: kr1.01 (vs kr1.59 in 3Q 2021)

Telenor Sweden Appoints Anna Cau as Chief People Officer of Management from the Beginning of 2023

Upcoming dividend of kr4.30 per share

Telenor ASA Announces Management Changes

President & Group CEO recently bought €100k worth of stock

Second quarter 2022 earnings released: kr0.12 loss per share (vs kr1.50 profit in 2Q 2021)

Telenor ASA to Report Q2, 2022 Results on Jul 15, 2022

Telenor ASA Approves Dividend in Two Tranches for 2021, Payable on or About 24 May 2022 and 19 October 2022

Telenor ASA Elects Nina Bjørnstad as New Member of the Board of Directors with Effect from May 11, 2022

Upcoming dividend of kr5.00 per share

First quarter 2022 earnings released: EPS: kr4.94 (vs kr2.05 in 1Q 2021)

No independent directors

Telenor ASA Proposes Split Dividend for the Financial Year 2021, Payable on 24 May 2022 and 19 October 2022

Telenor Denmark Names New Head of Private Customer Division

Full year 2021 earnings released: EPS: kr5.92 (vs kr10.06 in FY 2020)

Executive VP & CEO of Telenor Norge AS recently bought €70k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Telenor Asa Provides Earnings Guidance for the Year 2022

Telenor Asa Provides Earnings Guidance for the Year 2022

Yoma MFS Holdings Pte. Ltd. entered into an agreement to acquire a 51% stake in Digital Money Myanmar Limited from Telenor ASA (OB:TEL) for $53 million.

Third quarter 2021 earnings released: EPS kr1.59 (vs kr3.25 in 3Q 2020)

Upcoming dividend of kr4.00 per share

Chief Executive Officer of Sweden Kaaren Hilsen has left the company

Telenor ASA (OB:TEL) commences an Equity Buyback Plan, for 10,000,000 shares, representing 0.71% of its issued share capital, under the authorization approved on May 27, 2021.

Second quarter 2021 earnings released: EPS kr1.50 (vs kr1.70 in 2Q 2020)

Telenor Asa Approves Dividend, Payable on or About 9 June 2021 and 20 October 2021

Upcoming dividend of kr5.00 per share

Telenor ASA Proposes Cash Dividend, Payable on 20 October 2021

First quarter 2021 earnings released: kr2.68 loss per share (vs kr0.35 profit in 1Q 2020)

Telenor ASA Provides Revenue Guidance for 2021

Full year 2020 earnings released

Jukka Leinonen Appoints as Head of Telenor Group’s Nordic Cluster Full-Time from Autumn 2021

New 90-day high: €14.92

Full year 2020 earnings released: EPS kr10.90 (vs kr5.91 in FY 2019)

Revenue misses expectations

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age