Åge Korsvold (born 8 April 1946) is a

Norwegian Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe *Norwegians, both a nation and an ethnic group native to Norway *Demographics of Norway *The Norwegian language, including the ...

businessperson A businessperson, businessman, or businesswoman is an individual who has founded, owns, or holds shares in (including as an angel investor) a private-sector company. A businessperson undertakes activities (commercial or industrial) for the ...

and since 2006

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

Kistefos Kistefos is a privately owned investment company owned by Christen Sveaas and led by CEO Tom Ruud. The company comprises wholly owned and part-owned industrial companies within offshore, shipping, and IT, as well as strategic investments in v ...

. He was born in

Oslo Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of ...

. He is educated in

business administration Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of management ...

from the

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...

in 1971. He started working for

Storebrand Storebrand is a financial services company in Norway. By volume, the company's main activities are related to life insurance and pension savings. However, the company also has major divisions working on investments, banking and, until 1999 and ...

in 1972 before becoming

chief financial officer The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...

in Golden West Shipping Co. in 1976 and then in Orkla Industrier in 1977. From 1983 to 1992 Korsvold was consultant in Fondsfinans, and from 1992 to 1994 CEO of Procorp. In 1994 he became CEO in UNI Storebrand. He played a central role under the failed

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

negotiations between UNI Storebrand and

Kredittkassen Christiania Bank og Kreditkasse, branded domestically as Kreditkassen or K-Bank and internationally as Christiania Bank was a Norwegian bank that existed between 1848 and 2000 when it merged with MeritaNordbanken and became Nordea. The bank had i ...

in 1997 and was also central in the acquisition plans for the Swedish-Finninsh

MeritaNordbanken Nordea Bank Abp, commonly referred to as Nordea, is a European financial services group operating in northern Europe and based in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive m ...

in the fall of 1999. In 2000 he was forced to resign, and was later reported by the

Norwegian National Authority for the Investigation and Prosecution of Economic and Environmental Crime The National Authority for Investigation and Prosecution of Economic and Environmental Crime ( no, Økokrim) is Norway's central unit for fighting economic and environmental crimes. The unit, created in 1989, has its main office in Oslo. Økokr ...

for illegal option trade. He was chairman of the board of the

Orkla Group Orkla ASA is a Norwegian conglomerate operating in the Nordic region, Eastern Europe, Asia and the US. At present, Orkla operates in the branded consumer goods, aluminium solutions and financial investment sectors. Orkla ASA is listed on the Os ...

briefly in 2000, as he was elected by the corporate council in September, but resigned after leaving Storebrand. He started as CEO of

in 2001. From 2003 he is also chairman of Ementor.

References

1946 births Living people Wharton School of the University of Pennsylvania alumni Norwegian expatriates in the United States Chief financial officers Norwegian chief executives {{Norway-business-bio-stub