Heidi Petersen Steps Down from DnB's Board of Directors

DnB NOR has been informed that Heidi M. Petersen will step down from her position on the Board of Directors of DnB NOR ASA. The reason for this is that her positions on the boards of several other Norwegian companies are not easily compatible with the strict requirements in the Financial Institutions Act regarding security for loans to companies with board members who are also board members in DnB NOR ASA.

It is a challenging task for large Norwegian listed companies to find board members who fulfil today's strict requirements for expertise and diversity. DnB NOR therefore regrets that attractive members of DnB NOR's governing bodies have to retire due to stipulations in financial legislation.