Åge Korsvold
Encyclopedia
Åge Korsvold is a Norwegian
businessperson
and since 2006 chief executive officer
of Kistefos
.
He was born in Oslo
. He is educated in business administration from the University of Pennsylvania
in 1971. He started working for Storebrand
in 1972 before becoming chief financial officer
in Golden West Shipping Co. in 1976 and then in Orkla Industrier in 1977. From 1983 to 1992 Korsvold was consultant in Fondsfinans, and from 1992 to 1994 CEO of Procorp. In 1994 he became CEO in UNI Storebrand.
He played a central role under the failed merger negotiations between UNI Storebrand and Kredittkassen in 1997 and was also central in the acquisition plans for the Swedish-Finninsh MeritaNordbanken in the fall of 1999. In 2000 he was forced to resign, and was later reported by the Norwegian National Authority for the Investigation and Prosecution of Economic and Environmental Crime for illegal option trade.
He was chairman of the board of the Orkla Group
briefly in 2000, as he was elected by the corporate council in September, but resigned after leaving Storebrand. He started as CEO of Kistefos
in 2001. From 2003 he is also chairman of Ementor
.
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
Businessperson
A businessperson is someone involved in a particular undertaking of activities for the purpose of generating revenue from a combination of human, financial, or physical capital. An entrepreneur is an example of a business person...
and since 2006 chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Kistefos
Kistefos
Kistefos is a privately owned holding company that pursues investments within venture capital, private equity, offshore, shipping and other sectors. It is owned by Christen Sveaas and led by CEO Åge Korsvold....
.
He was born in Oslo
Oslo
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...
. He is educated in business administration from the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
in 1971. He started working for Storebrand
Storebrand
Storebrand is a financial services company in Norway. By volume, the company's main activities are related to life insurance and pension savings. However, the company also has major divisions working on investments, banking and, since 2006, P&C insurance products...
in 1972 before becoming chief financial officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
in Golden West Shipping Co. in 1976 and then in Orkla Industrier in 1977. From 1983 to 1992 Korsvold was consultant in Fondsfinans, and from 1992 to 1994 CEO of Procorp. In 1994 he became CEO in UNI Storebrand.
He played a central role under the failed merger negotiations between UNI Storebrand and Kredittkassen in 1997 and was also central in the acquisition plans for the Swedish-Finninsh MeritaNordbanken in the fall of 1999. In 2000 he was forced to resign, and was later reported by the Norwegian National Authority for the Investigation and Prosecution of Economic and Environmental Crime for illegal option trade.
He was chairman of the board of the Orkla Group
Orkla Group
Orkla Group is a Norwegian industrial conglomerate operating in the Nordic region, Eastern Europe, Asia and the US. The company's main divisions are branded consumer goods, aluminium solutions, materials, associates and financial investments.-Operations:...
briefly in 2000, as he was elected by the corporate council in September, but resigned after leaving Storebrand. He started as CEO of Kistefos
Kistefos
Kistefos is a privately owned holding company that pursues investments within venture capital, private equity, offshore, shipping and other sectors. It is owned by Christen Sveaas and led by CEO Åge Korsvold....
in 2001. From 2003 he is also chairman of Ementor
Ementor
Atea , previously Ementor, is a Nordic IT infrastructure solutions and services company. It is headquartered in Oslo, Norway.The company sells, installs, and supports products from Cisco, HP, Microsoft, Sun, SAP and others....
.