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Norwegian Air’s Board of Directors Appoints Jacob Schram as New CEO

Updated: Jan 11, 2020

Norwegian Air announced Tuesday that Jacob Schram has been appointed as the company’s new Chief Executive Officer, starting January 2020.

Jacob Schram, Norwegian Air's New CEO - Courtesy Norwegian

Today, Norwegian Air announced that the airline’s Board of Directors has appointed Jacob Shram as the company’s new CEO, starting on January 1, 2020. Geir Karlsen will remain the airline’s Chief Financial officer and Deputy CEO. Mr. Schram (57) is the former Chief Executive of Statoil Fuel and Retail (SFR). In Today’s Announcement, Norwegian’s Chairman of the Board of Directors, Niels Smedegaard said,

“I am very pleased to announce that Jacob Schram has been appointed new CEO of Norwegian, after a thorough search process. His extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase. I look forward to working with Jacob Schram and the rest of the Norwegian management team. Together we will drive efficiency and continuous improvements to the benefit of our customers, shareholders and employees.”

Mr. Smedegaard continued, “I would like to take this opportunity to thank our CFO Geir Karlsen for his remarkable efforts since Bjorn Kjos stepped down in July. During the last months, the company has taken a series of measures which has resulted in strong financial improvements. Profits in the company’s third quarterly results were the highest ever and the company has also taken several actions to increase liquidity and reduce capital commitments. I am naturally very pleased with Geir’s decision to focus entirely on his role as CFO. Geir will also continue as deputy CEO. With Jacob Schram and Geir Karlsen in top management, we now have an outstanding team in place to take the company forward.”

Fifty-seven-year-old Jacob Schram has 30 years of management experience with large multinational organizations such as Circle K, Statoil Fuel & Retail (SFR), McDonald’s and McKinsey. Under Mr. Schram’s direction as CEO, in 2010 SFR was successfully listed as a publicly traded company on the Norwegian stock exchange. When the company was acquired by Couche-Tard in 2012, he became Group President for Europe, overseeing the global rebranding of over 10,000 stores to Circle K. Jacob Schram, a Norwegian citizen, is also the author of the book “The Essence of Business” and has a master’s degree in Economics from Copenhagen Business School. In Wednesday’s announcement, Norwegian Air’s new CEO, Jacob Schram said,

“Norwegian has made aviation history and I am honored to take on the role as CEO. The airline industry is characterized by strong competition and unforeseen events, but it is also an industry that is important to people everywhere. I look forward to using my experience to build on the strong foundation laid down by Bjorn Kjos, Geir Karlsen and the rest of the talented and dedicated Norwegian team. Now, my main focus will be to bring the company back to profitability and fortify the company’s position as a strong international player within the aviation industry.”

Source: Norwegian Air


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