Telenor consolidates Asia business under Jørgen C. Arentz Rostrup

Telenor is unifying its Asia units under the leadership of its current CFO, Jørgen C. Arentz Rostrup.

 

The company’s Asian business is currently split into two clusters, ‘Developed Asia’ and ‘Emerging Asia’, each with their own attached CEO, but the region’s economic development has left little functional differences between the two.

 

The current CEOs attached to manage these clusters – Albern Murty, CEO of Digi (Telenor’s Malaysian unit) and Irfan Khan, CEO of Telenor Pakistan – will retain their positions as head of their respective operator units. 

 

“I see great potential in bringing the Asian clusters together as one strong team with a mandate to explore the potential across our markets, and to actively engage with the business environments in the region. I am eager to join forces with the teams in Asia to continue this journey of creating value and driving growth,” said Rostrup.

 

Rostrup will be based in a regional hub in Singapore to work more closely with the CEOs of Telenor’s five Asian companies in Thailand, Malaysia, Myanmar, Pakistan, and Bangladesh.

 

Rostrup’s departure from the CFO position has left the door open for Tone Bachke to take up the role. Bachke is currently Head of Group Treasury, with a wide range of experience in executive positions, including as CFO of private investment company Kistefos and as CEO of infrastructure contractor Implenia Norge.

 

“Tone has a strong financial and operational background and has shown willingness to explore and challenge the status quo. These are key reasons why she will thrive in the CFO role. I look forward to working alongside her in the Group Executive Management team,” said Rostrup.

 

The position changes will take place simultaneously on the 1st of May, though a replacement Head of Group Treasury has not yet been announced. 

 

“By uniting these markets into a single Asia unit and building a stronger Asia presence, we are well-equipped to fully realise the potential across the region and seize opportunities for growth,” commented Sigve Brekke, president and CEO of Telenor Group.

 

Asia is not the only market where Telenor hopes to seize opportunities, having launched 5G in Norway a few days ago.

 

“We expect 5G to be the key driver of transformation in this decade, and we are very much looking forward to continuing the roll-out of 5G to our customers," said Brekke.