Jan Tore Føsund has been appointed as the new President and CEO of Ratos's Norwegian subsidiary, wine and spirits supplier Arcus.Føsund's most recent position was CEO of Norway's largest wholesaler and distributor of pharmaceutical and health care products,NMD Grossisthandel.
Arcus is Norway's leading wine and spirits supplier. The group's best-known brands include Braastad Cognac, Vikingfjord Vodka, Løitens and Linie Aquavit. The largest production facilities are centrally located in Oslo. Besides the wine and spirits business in Arcus, logistics company Vectura and alcohol- and isopropanolbased manufacturer Arcus Kjemi, are included in the Group. The Arcus Group is owned by Ratos (83%) and Hoff (the Norwegian potato growers) together with Arcus's directors and management. The Group has 600 employees and had sales of NOK 1.2 billion in 2005.
Kaare Frydenberg, Chairman of Arcus, comments: "Jan Tore Føsund has the experience and qualities to lead Arcus in its future development. His broad experience from a number of leading positions within one of Norway's major wholesale businesses is just what is needed for Arcus to further strengthen its well-known brands and achieve additional international growth."
Until the autumn, when Jan Tore Føsund will assume his position, Kaare Frydenberg will continue to serve as Executive Chairman, while Production Director Jan Oluf Skarpnes will serve as acting President and CEO.
For further information, please contact:
Kaare Frydenberg, Chairman of the Arcus Board, +47 95 89 21 85
Leif Johansson, Senior Investment Manager Ratos, +46 70 520 40 25