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Funcom N.V. announces Ole Schreiner as new CEO for the company

Published on (2012-07-02)

Trond Arne Aas, long term CEO of Funcom N.V., takes on new role as Strategic Advisor to the Board and Chief Strategy Officer

Funcom N.V. (Funcom) announced today that the Supervisory Board of Funcom has nominated Ole Schreiner as the new CEO of Funcom and as a new member of the Management Board of Funcom. Ole Schreiner comes from the position of COO of the Company, a role he has held with great success for several years. Ole Schreiner is one of Funcom's longest-serving employees and he has been working directly with titles such as 'Anarchy Online', 'Age of Conan' and 'The Secret World' in several capacities.

After serving as Funcom CEO for several years and having successfully shipped two of the company's most important titles - 'Age of Conan' and 'The Secret World' - Mr. Aas has decided to take on a freer role as Strategic Advisor. Mr. Aas will also serve as Chief Strategy Officer. Among other projects Mr. Aas will be working actively with the recently announced LEGO MMO developed by Funcom.

"Trond Arne Aas has been an invaluable asset to Funcom and he has established Funcom as a world-leading company in the online games space," says Gerhard Florin, Chairman of the Supervisory Board. "When Trond Arne Aas made his request for a transition, Ole Schreiner was the natural successor. Mr. Schreiner knows the company intimately and is one of the most experienced executives in the online games business. He has been working together with Trond Arne Aas for years and through his work at Funcom he has demonstrated deep and broad business understanding and world class operating skills, both in terms of people management, customer understanding and interaction, in game development and in cost and margin optimization. A key strength is his unrelenting drive for change and continuous improvement. The Supervisory Board feels confident that Ole Schreiner will be a strong CEO for Funcom."

Ole Schreiner's operational experience will prove particularly valuable as the company's greatest investment, 'The Secret World', is now launching and heading into its post-launch, operational phase, where focus will be on operational excellence and on the ongoing process of providing players with more content and new experiences as well as customer support and community engagement. Mr. Schreiner will, based on a special mandate of Funcom NV's Management Board, take on his duties as CEO with immediate effect, final appointment as member of Management Board pending confirmation by the general meeting of shareholders.

"I am very excited to take on this new role in Funcom," says Ole Schreiner. "I have been passionate about online games and MMOs for years and Funcom today has a very exciting position in the industry as one of the leading MMO-developers and publishers in the world. I believe the product portfolio of the company, and in particular 'The Secret World', is very strong, and that we can build on and further re-enforce Funcom's position as an innovative and quality-focused developer and publisher of MMOs. Our focus will be to continue providing millions of gamers across the world new and exciting entertainment products, as well as providing solid returns to investors."

For Trond Arne Aas the decision to transition into a new role in the company has come naturally and he is looking forward to contributing to the company's future in a new capacity.

"I have served as CEO of Funcom for several years and it has been an exciting and rewarding experience," says Trond Arne Aas. "Funcom has developed immensely during that period and I am very proud of the fact that Funcom has been established as one of the most credible and respected companies in the MMO-space with a strong technology base and a strong product portfolio. Funcom now has two very exciting products heading into the post-launch phase: 'The Secret World' and 'Fashion Week Live'. The Company's financial position is strong and the foundation of the Company's long-term product and technology strategy is in place. It feels like a very natural point in time for me to make the transition to a new and freer role in the company, but I will remain committed to the Company both as a major shareholder and as an employee."

The shares and options in Funcom NV held by Trond Arne Aas and his wholly owned company Arminius AS will remain regulated as shares held by management in Funcom with respect to red and green periods of trading. As part of the transition to the new role, Mr. Aas will also leave the Management Board of Funcom.

Badhoevedorp, The Netherlands, 2 July 2012
Funcom N.V.

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