Executive changes and corporate update

Changes in management

After careful deliberation and at the request of his family, Steen Lund has decided to resign from his position as CEO of Alginor ASA, contributing until mid-July. Effective 1 May, Herluf Nissen will serve as acting CEO.

Herluf Nissen joined Alginor as Process Technology Manager in August of last year and became COO in November, and the board is impressed with his tenure and pleased that he has accepted the position as acting CEO. Mr. Nissen brings two decades of useful experience as the group transitions from start-up to operational and commercial.

The company has also appointed Peer Lea as permanent CFO from 1 April. Mr. Lea joins from a partner role at Boston Consulting Group. The board is confident that his combination of financial expertise and strategic experience will be key assets for the company in its commercialisation and continued strategic development. Sven Sele, who has served as interim CFO since March of last year, will continue to support the company during a transitional period.

Jon Efskind, dr.scient., will also join the management group, focusing on raw material sourcing projects, associated public relations and technology management – all key initiatives in the company's path to commercialisation. Efskind brings 21 years of experience from the pharmaceutical industry, including R&D, scale-up and technology transfer at Xellia.

The strengthened management team reflects an evolving leadership structure designed to support Alginor through its next phase.

The board would like to sincerely thank Lund and Sele for their contributions and efforts and wishes them all the best for the future.

Convertible loan

At the extraordinary general meeting on 6 October 2025, it was resolved to raise a convertible loan of NOK 200 million, which has since been issued. At the same time, the general meeting granted the board authorisation to raise a further NOK 100 million as a convertible loan, to be offered exclusively to those who subscribed to the initial convertible loan of NOK 200 million.

The board has decided to make use of this authorisation during the summer of 2026 and to raise an additional NOK 100 million as a convertible loan. Shareholders who qualify to participate in the loan will receive further information in due course.

AGM 2026

The company is currently preparing its annual report for 2025 and will call for an annual general meeting as soon as the report is ready. According to current timelines, the annual report and notice of the general meeting are expected to be available early June,  and the general meeting will take place mid/late June. A notice will be issued when the annual report is finalised.

The general meeting will be held in person at the company’s premises at Husøy, Karmøy, with the option for shareholders to participate via Teams upon request.

For further information, please contact:
Wenche Kjølås, Chair of the board of directors of Alginor ASA
Phone: +47 916 24 434
E-mail: wenche@alginor.no