Christian Rynning-Tønnesen
Encyclopedia
Christian Wilhelm Rynning-Tønnesen (born 18 June 1959) is a Norwegian
businessperson. He has spent most of his career in Statkraft
, from 1992 to 2005, and in Norske Skog
industrier since 2005. Since June 2006 he is the CEO of Norske Skog, being hired in a difficult era for the company. Before this he had accepted the offer to become CEO of Agder Energi
; however he changed his mind before actually assuming the position.
, and grew up in Kristiansand
and Bergen
. His father Carl M. Rynning-Tønnesen and grandfather were both prominent chiefs of police in Kristiansand, but Rynning-Tønnesen is educated as a civil engineer
at the Norwegian Institute of Technology
. He started his professional career as a researcher at SINTEF
, worked with product development in the company Esso Norway
from 1985 to 1989, and then as a consultant at McKinsey & Company
from 1989 to 1992.
In 1992 he was hired in Statkraft
. He held various positions in the leadership, the common denominator being a relation to strategy, the market and finance. He became acting chief executive officer in 2003, and was vice president of finance in 2005. On 1 April 2005 he was appointed as chief financial officer in the company Norske Skog
industrier. Among others, he worked with the much-discussed discontinuation of the paper mill Norske Skog Union
.
On 20 February 2006 it was announced that Rynning-Tønnesen had been hired as CEO of the Statkraft-owned, Kristiansand-based power company
Agder Energi
. He was headhunted, and did not apply for the job. Chair of Agder Energi Sigmund Kroslid
, who had taken the position in December 2005, praised Rynning-Tønnesen as "the clear primary candidate of the board". Stavanger Aftenblad
noted that the new CEO did not want to negotiate a golden parachute. It was unclear when Rynning-Tønnesen would actually assume the position, but in early June he visited Agder Energi for preparations. However, the next week he declined the position to become CEO of Norske Skog. He had been offered the position in Norske Skog behind the scenes.
Jan Oksum, who in February 2006 "regretted" that Rynning-Tønnesen left Norske Skog, was fired due to poor results. The poor results continued under Rynning-Tønnesen, due to downward international trends and sinking demand
of paper. From February to November 2007 the Oslo Stock Exchange
value of Norske Skog plummeted with 20%. In 2008 the activity at Norske Skog Follum
was lowered amid continued losses. Nonetheless, in 2008 he received an award for leadership, the "European CEO of the Year for the pulp and paper industry", from the information company RISI.
Rynning-Tønnesen will assume office as CEO of Statkraft in the summer of 2010, and will keep his annual salary of . This is 0.4 million more than the person he succeeds as CEO of Statkraft, Bård Mikkelsen
, earns. It is the highest salary for a leader in a state-owned company in Norway.
in Bærum
, near Ringstabekk
. He has a wife and four children.
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
businessperson. He has spent most of his career in Statkraft
Statkraft
Statkraft is a Norwegian state owned electricity company. With a total energy production of 44.9 TWh in 2007, the Statkraft Group is the third largest energy producer in the Nordic region, as well as the largest energy producer based on renewable energy sources in Europe,consisting of 40% of the...
, from 1992 to 2005, and in Norske Skog
Norske Skog
Norske Skogindustrier ASA or Norske Skog, which translates as Norwegian Forest Industries, is a Norwegian pulp and paper company based in Oslo, Norway and established in 1962...
industrier since 2005. Since June 2006 he is the CEO of Norske Skog, being hired in a difficult era for the company. Before this he had accepted the offer to become CEO of Agder Energi
Agder Energi
Agder Energi is a power company based in Agder, Norway. It is the second largest power producer in Norway, after its largest owner, Statkraft who owns it along with 31 municipalities in the region Agder. It operates 31 hydroelectric power plants, operates the power grid in 31 municipalities, as...
; however he changed his mind before actually assuming the position.
Career
Rynning-Tønnesen was born in OsloOslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...
, and grew up in Kristiansand
Kristiansand
-History:As indicated by archeological findings in the city, the Kristiansand area has been settled at least since 400 AD. A royal farm is known to have been situated on Oddernes as early as 800, and the first church was built around 1040...
and Bergen
Bergen
Bergen is the second largest city in Norway with a population of as of , . Bergen is the administrative centre of Hordaland county. Greater Bergen or Bergen Metropolitan Area as defined by Statistics Norway, has a population of as of , ....
. His father Carl M. Rynning-Tønnesen and grandfather were both prominent chiefs of police in Kristiansand, but Rynning-Tønnesen is educated as a civil engineer
Sivilingeniør
Sivilingeniør used to be a Norwegian university degree protected by Norwegian law issued to graduates from technical universities. To qualify for the title, you had to follow a structured study programme in technology and natural sciences of 4,5 - 5 years duration at a Norwegian university or...
at the Norwegian Institute of Technology
Norwegian Institute of Technology
The Norwegian Institute of Technology, known by its Norwegian abbrevation NTH was a science institute in Trondheim, Norway. It was established in 1910, and existed as an independent technical university for 85 years, after which it was merged into the University of Trondheim as an independent...
. He started his professional career as a researcher at SINTEF
SINTEF
SINTEF , headquartered in Trondheim, Norway, is the largest independent research organisation in Scandinavia. Every year, SINTEF supports research and development at 2,000 or so Norwegian and overseas companies via its research and development activity....
, worked with product development in the company Esso Norway
Esso
Esso is an international trade name for ExxonMobil and its related companies. Pronounced , it is derived from the initials of the pre-1911 Standard Oil, and as such became the focus of much litigation and regulatory restriction in the United States. In 1972, it was largely replaced in the U.S. by...
from 1985 to 1989, and then as a consultant at McKinsey & Company
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
from 1989 to 1992.
In 1992 he was hired in Statkraft
Statkraft
Statkraft is a Norwegian state owned electricity company. With a total energy production of 44.9 TWh in 2007, the Statkraft Group is the third largest energy producer in the Nordic region, as well as the largest energy producer based on renewable energy sources in Europe,consisting of 40% of the...
. He held various positions in the leadership, the common denominator being a relation to strategy, the market and finance. He became acting chief executive officer in 2003, and was vice president of finance in 2005. On 1 April 2005 he was appointed as chief financial officer in the company Norske Skog
Norske Skog
Norske Skogindustrier ASA or Norske Skog, which translates as Norwegian Forest Industries, is a Norwegian pulp and paper company based in Oslo, Norway and established in 1962...
industrier. Among others, he worked with the much-discussed discontinuation of the paper mill Norske Skog Union
Norske Skog Union
Norske Skog Union was a paper mill located in Skien in Norway. The mill was part of the Norske Skog Corporation and opened in 1873 with the name Union Co. The mill had two paper machines that produced 240,000 tonnes of newsprint and book paper. It was closed down in 2006.-History:In 1872 Ulrik...
.
On 20 February 2006 it was announced that Rynning-Tønnesen had been hired as CEO of the Statkraft-owned, Kristiansand-based power company
Power Company
The Power Company was a team of professional superheroes-for-hire in the DC Comics universe. The team, created by Kurt Busiek and Tom Grummett, first appeared in JLA 61,...
Agder Energi
Agder Energi
Agder Energi is a power company based in Agder, Norway. It is the second largest power producer in Norway, after its largest owner, Statkraft who owns it along with 31 municipalities in the region Agder. It operates 31 hydroelectric power plants, operates the power grid in 31 municipalities, as...
. He was headhunted, and did not apply for the job. Chair of Agder Energi Sigmund Kroslid
Sigmund Kroslid
Sigmund Kroslid is a Norwegian politician for the Christian Democratic Party, best known for being the mayor of Flekkefjord for fourteen years.-Career:...
, who had taken the position in December 2005, praised Rynning-Tønnesen as "the clear primary candidate of the board". Stavanger Aftenblad
Stavanger Aftenblad
Stavanger Aftenblad or simply Aftenbladet is a daily newspaper in Stavanger, Norway. It was founded in 1893 by the priest Lars Oftedal, and was for a long period a publication for the Liberal Party. It had a circulation of 68,186 copies in 2005...
noted that the new CEO did not want to negotiate a golden parachute. It was unclear when Rynning-Tønnesen would actually assume the position, but in early June he visited Agder Energi for preparations. However, the next week he declined the position to become CEO of Norske Skog. He had been offered the position in Norske Skog behind the scenes.
Jan Oksum, who in February 2006 "regretted" that Rynning-Tønnesen left Norske Skog, was fired due to poor results. The poor results continued under Rynning-Tønnesen, due to downward international trends and sinking demand
Supply and demand
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers , resulting in an...
of paper. From February to November 2007 the Oslo Stock Exchange
Oslo Stock Exchange
The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...
value of Norske Skog plummeted with 20%. In 2008 the activity at Norske Skog Follum
Norske Skog Follum
Norske Skog Follum is a paper mill located in Follum in Norway. The mill is part of the Norske Skog Corporation and opened in 1873 with the name Follum Fabrikker...
was lowered amid continued losses. Nonetheless, in 2008 he received an award for leadership, the "European CEO of the Year for the pulp and paper industry", from the information company RISI.
Rynning-Tønnesen will assume office as CEO of Statkraft in the summer of 2010, and will keep his annual salary of . This is 0.4 million more than the person he succeeds as CEO of Statkraft, Bård Mikkelsen
Bård Mikkelsen
Bård Martin Mikkelsen is a Norwegian businessperson. He has been the chief executive officer of Widerøe , the Ulstein Group , Oslo Energi Holding and Statkraft .-Biography:...
, earns. It is the highest salary for a leader in a state-owned company in Norway.
Personal life
Rynning-Tønnesen lives at JarJar, Norway
Jar is a district in the municipality of Bærum, Norway. Its population is 4,868.It is served by the Jar rail station on the Kolsås Line.-References:...
in Bærum
Bærum
is a municipality in Akershus county, Norway. The administrative centre of the municipality is the town of Sandvika. Bærum was established as a municipality on 1 January 1838. A suburb of Oslo, Bærum is located on the west coast of the city....
, near Ringstabekk
Ringstabekk
Ringstabekk is a district in Bærum, Norway. Named after the local farm, the district is also known for its schools and the sports field. The sports club Stabæk IF originates in the area.-The farm:...
. He has a wife and four children.