Thin Film Electronics ASA (OL:THIN) has announced the appointment of a new CFO. Ole Ronny Thorsnes will join the company later this year and was headhunted from Nordic FMCG leader, Orkla, where he was VP of mergers and acquisitions. Previous experience at McKinsey focused on strategy, finance and operational topics. Ole Ronny Thorsnes’s background is similar to that of the outgoing CFO John Afzelius-Jenevall, who has been instrumental in Thinfilm’s rapid development and is leaving the company to return to his native Sweden for family reasons relating to his children’s education. The transition is to be smoothed by a period of overlapping consultancy from John Afzelius-Jenevall.
We see the news as neutral for the share price as we expect the transition to the new CFO to be managed well and we also see the incoming CFO’s background is highly suitable for the challenges ahead.
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