Akastor Appoints New CFO



Akastor Appoints New CFO
Oil services investment company Akastor has appointed Oyvind Paaske as its new chief financial officer.

Oil services investment company Akastor ASA revealed Friday that it has appointed Oyvind Paaske as its new chief financial officer, effective March 1, 2020.

Paaske will replace Leif H. Borge, who will remain in the position up to this date. Paaske joined the investment team in Akastor in 2014. Prior to this, he held the position of investment manager at Aker ASA.

“I am very pleased that Oyvind has accepted the CFO position,” Akastor CEO Karl Erik Kjelstad said in a company statement.

“During his time at Akastor, he has played an important role in executing our M&A projects and has gained considerable knowledge of all our portfolio companies, in particular MHWirth,” he added.

Commenting on the new job, Paaske said, “I am excited to take on the CFO role in Akastor”.

“I very much look forward to contributing in my new position, with focus on developing and realizing the values in Akastor’s portfolio,” he added.

Akastor was established as an investment company in 2014 following a demerger of Aker Solutions. Aker Kvaerner Holding AS, which is owned by Aker ASA and the Norwegian government, is the largest shareholder of Akastor with a shareholding of 40.27 percent.

Last month, the company reported revenues of $153 million (NOK 1.4 billion) in the third quarter. This marked an increase of 50 percent year on year, the company highlighted.

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