Changes to the Building business area

They are succeeding Henning Olsen who is leaving AF to become CEO of a listed Norwegian company.

In recent years the Building business area has experienced strong growth. In 2018 the portfolio comprised almost half of overall business in AF Gruppen. In order to be equipped for further growth, Building is being divided into two operative portfolios headed by two EVPs. Geir Flåta (born 1978) arrives from the position as head of the AF Nybygg business unit. He will head the wholly-owned building operations in Norway that comprise AF Byggfornyelse, AF Bygg Oslo, AF Nybygg and AF Bygg Østfold. Amund Tøftum will, in addition to his current responsibilities for the Offshore business area, be responsible for the part-owned Norwegian building operations comprising LAB, Strøm Gundersen, MTH and Eiqon. The Building business area will continue to report as a combined portfolio to the stock and investor market.

“Henning has put in an excellent effort as EVP for Building, and it is a pity to lose a good colleague. At the same time, it is satisfactory to see that we time and time again are capable of promoting great managers from our own ranks when new opportunities arise. Geir has long experience from AF with broad project and management experience from both construction and building, and I’m looking forward to him joining my management team. Amund has good capacity and broad experience from both Offshore and construction operations. I am confident that both the part-owned building portfolio and the offshore area will develop further under his leadership,” says Morten Grongstad, CEO of AF Gruppen.