NORWAY – Norway-based dairy group, Tine SA, has announced the appointment of the company’s former deputy CEO and EVP of commercial functions, Ann-Beth Freuchen, as new CEO effective October 1.
Before joining Tine, Freuchen worked at Nordic food group Orkla for 25 years where she held positions as the EVP of Orkla Foods Nordics and Baltics from 2019 to 2021 and chief executive of the company’s confectionery and snacks business from 2015 to 2019.
Since the start of last year, Freuchen has held the roles of deputy CEO and EVP of commercial functions at Tine.
“I have strong faith in what the future will bring, and look forward to creating value for both customers and owners, together with a large team of competent people with a heart for Tine,” Freuchen said during her appointment.
“Together with our skilled owners, we ensure a vibrant Norway with food production throughout our long country, both through our well-known brands, but also through an important social mission.”
Freuchen will succeed Gunnar Hovland, who has been Tine’s chief executive since 2019 and is now taking the same position at renewable energy company Aneo.
According to Tine chairman Marit Haugen, falling milk consumption, significant imports of dairy products and strong competition mean that commercial success is at the very top of the cooperative’s agenda and in the selection of a new CEO.
He added that with Ann-Beth’s extensive experience in developing winning teams that deliver top results, Tine has a high chance of emerging as the customers’ first choice.
Earlier this year, Tine reported an operating profit of NOK 1,257 million (€1.15 billion) in 2022, down NOK 468 million (€42 million) from the previous year.
It said the results were characterized by a marked decline in the grocery trade as a result of society reopening after the COVID-19 pandemic.
In 2022, Oslo-headquartered Tine generated sales revenue of NKr24.87bn ($2.33bn), up 3.4% from a year earlier.
However, the company’s operating profit fell 27.1% to NKr1.26bn. It pointed to higher raw-material, energy and transport costs.
In the same year, the dairy group laid off workers in the company-wide restructure due to decreased milk consumption in Norway and increasing competition.
Around 30 jobs were lost at the Norway-based group’s dairy in Ålesund, where milk production was shut down and moved to another site.
Tine, being Norway’s largest producer, distributor and exporter of dairy products aims at providing the consumers with dairy food that provides a healthier and positive food experience.
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