Successful adaptation of Ekornes ASA
Olav Kjell Holtan awarded Chairman of the Year 2010

The reasoning of the jury is that Holtan’s professional skills in relevant areas through 20 years have contributed to that the production of Ekornes is very oriented to customer needs. The chairman is very results oriented, and Ekornes has delivered consistent results at 400-500 million NOK in recent years. Even with 20% less orders at the end of 2008 managed Ekornes by rapid transition to a 4-day week to maintain the surplus at 497 million from a turnover of 2.5 billion NOK in the crisis year 2009. In 2010 Ekornes has taken back those who were dismissed and Ekornes will pay bonuses to employees.

The mission of the award is to visualize a chairman with excellent results in the boardroom and economically which may increase growth for new founded companies, reduce risks for loss and for bankruptcies in established companies. The chairman shall be environmentally oriented.

Olav Kjell Holtan was nominated to this award in 2003, winner Bengt Thuresson Komplett asa and in 2005, winner Tore Engebretsen Nordic Semiconductor ASA.

Holtan enjoys great respect for personal integrity, maturity and authority. He is one of those who have the longest history in the Norwegian furniture industry by being chairman of Ekornes since 1990. He has led the company through bankruptcy risk in 1992, and the board made a strategy at that time that the company has been loyal to since. Strategic decisions are made after appropriate input from management. There has been a change of CEO in July 2009.

As chairman, Olav Kjell Holtan is very competent in motivating and involving all seven board members so that they share openly their knowledge and experiences. All directors of the board  participate strongly in the meetings.

Holtan priorities correct matters, leads the discussions very well, summarizes the discussions and formulates decisions. This year's chairman is very strongly committed, sets aside the necessary time and has an annual written evaluation of the board's work. These are other positive factors that the jury has emphasized.

He has 12 other directorships excluding subsidiaries and real estate corporations. Holtan is 59 years and has an Master of Science and is a partner in DHT Corporate Services AS.

The strategy meeting lasted for two days and totally the Board had meetings 60 hours.

It is 50% female representation on the board.
The other directors of the board are:

• Deputy Kjersti Kleven (born 1967)
• Edgard Arnstein Johannessen (born 1956)
• Stian Ekornes (f 1963)
• Edvin André Grothaug Haugen (born 1980)
• Nora Førisdal Larssen (born 1965)
• Gry Hege Sølsnes (f 1968)
• Tone Helen Hanken (f 1962)

The jury:

• Chairman Anders Grundekjøn Statkraft AS, winner 2009
• Chairman Eivind Reiten  Norske Skog ASA
• Lawyer Marianne H Blystad  director in several ASA
• CEO Monna Nordhagen  Brandlab as
• Former CEO Finn Bergesen jr.  NHO
• CEO Jørgen P Ulvness  First Securities as, Mainpartner
•  CEO Kyrre Olaf Johansen  Entra Eindom as
•  Chair of the Jury Gunnar Eckbo Styreinformasjon AS

EKORNES
Production of J.E. Ekornes Feather Factory started in 1934 with three employees and machines from Germany. In 2010, Ekornes ASA, the largest furniture manufacturer in Scandinavia with 1500 employees.
Stressless is one of the world's best known brands in the furniture industry, while Ekornes, Stressless and Svane are the best known within the furniture industry in Norway. Production takes place in seven factories in Norway and marketed across large parts of the world through its own sales companies in selected markets. Ekornes's vision is to be one of the most attractive suppliers of furniture for home installations. In 2008 it was decided an environmental policy and a steering group was appointed.

The Company has an equity ratio of 76%. The equity will be reduced by a dividend of nok 7.00 in 2010 (nok 3.50 in 2009), a total of over nok ¼ billion to shareholders. Market value is 4.9 billion nok and price rise in the last 12 months is 105%.

The award is a golden sarcofag 120 cm made of Marian Heyerdahl which stays 1 year at the winning company and one glass sculpture to the company and one to the winner. Personally the winner receives an electric bicycle for transportation to work instead of the car.