The Board consists of three members and a chairman. The members have an average of 4 board appointments each.


Diversity on the board is important to facilitate independent opinions and critical challenge. In the selection and appointment of a board member the company shall strive to have a broad set of qualities and skills considered. Diversity must be promoted.

The members shall have financial and industrial knowledge, insight, experience and suitability. Differences and diversity is not an end in itself. In the composition of the Board shall take into account the company’s operations, phase of development and other circumstances.

In the selection process for the board all candidates shall all have equal opportunities in terms of sexual orientation, age, ethnicity, gender, religion or handicap.

The Company has decided not to introduce a risk committee due to the size, nature and scope of the business. Responsible for the company’s risk function reports directly to the Board.

Members of the board

Finn Berg Jacobsen

Finn Berg Jacobsen (born 1940) is a board member of Aker ASA. Berg Jacobsen has an MBA from Harvard Business School and is a Chartered Accountant. He has held various positions at Arthur Andersen & Co., including as Regional Manager for Scandinavia from 1983 to 1999. From 2001 to 2005 worked Berg Jacobsen as CFO and HR Manager at Aker Kvaerner. He now works as a consultant in business management and finance. He is a board member and head of the audit committee of several companies. He has been a member of boards, regulatory agencies and organizations involved in auditing and accounting. Finn is a Norwegian citizen. Finn has two additional board assignments.

Frank O. Reite (Chairman)

Frank O. Reite (born 1970) first joined Aker in 1995, and held the position as CFO in Aker ASA from August 2015 until August 2019. He is now an advisor. He holds a B.A. in business administration from Handelshøyskolen BI in Oslo. Mr. Reite has previously held the position as President & CEO of Akastor, and has previously held a variety of executive positions in the Aker group, including overseeing and developing Aker’s investments in Converto Capital Fund AS, Havfisk ASA, Norway Seafoods AS and Aker Yards ASA. Mr. Reite also has experience from banking and served as Operating Director at Paine & Partners, a New York-based private equity firm. Mr. Reite is the chairman of Ocean Yield ASA, Converto AS and Norron Asset Management and a board member of Aker Biomarine As and Solstad Offshore ASA.

Ulf Frykhammar

Managing Partner and co-founder of Norron Asset Management AB. Master of Business Administration from Linköping University in 1989. Manager of Individual Asset 1989-1994. Then three years in Hong Kong, with partial responsibility for SEB’s management in Asia. Back in Sweden, Ulf was responsible for SEB Fonder Nordic countries Funds and 1999, he co-founded SEB Hedge Fund, which he worked until 2003. Join in and started Catella hedge fund in 2003 and managed it until 2010. Partner at Catella Funds from 2008 to 2010 and Director of Catella Capital during the same period. Ulf has no additional board assigment.

Fredrik Severin

Member since 2015. Fredrik has more than 15 years’ experience of working in Private Equity and Asset Management. Fredrik studied at the Institute of Technology, Linköping University, and also holds an MBA from Henley Business School in the UK. During the last 20 years Fredrik has held senior positions in both start-ups and blue chip companies, as well as founded several investment firms. He is a former partner of MVI, Global Responsibility, and Air Liquide Ventures. He also founded and was a member of the board at Systematic Capital, a Swedish investment company. Fredrik has three additional board assignments.