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UPDATE 1-Telenor's Tapad appoints new CEO, replacing founder
June 8, 2017 / 1:31 PM / 5 months ago

UPDATE 1-Telenor's Tapad appoints new CEO, replacing founder

(Adds more information)

June 8 (Reuters) - Telenor Asa:

* Telenor’s marketing technology company Tapad says board appoints Sigvart Voss Eriksen as new CEO, replacing company co-founder Are Traasdahl

* Traasdahl will transition to chairman emeritus, a senior advisory role at Tapad

* Telenor bought Tapad in February 2016, valuing the firm at $360 million

* In February 2017, Telenor recorded a NOK 1 billion ($117.91 million) impairment in Tapad as a result of lowered growth expectations within U.S. media advertising

* “Having been 16 months since Tapad’s acquisition by Telenor and seeing the company thrive, it was a very natural transition that I shift operational day-to-day responsibilities to a new CEO,” Traasdahl said in a statement on Thursday

* Tapad says Voss Eriksen, who joined Telenor in 2001, "will focus on evolving the company's already successful core graph and identity cross-device products, with a continuous investment in improving the infrastructure to create new features and vertical solutions for marketers" Source text: bit.ly/2r9pjkA Further company coverage: ($1 = 8.4813 Norwegian crowns) (Reporting By Terje Solsvik)

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