Rune Midtgaard takes over as CEO of Store Norske after Jan Morten Ertsaas. Midtgaard comes from the position of CFO of Scandza. That is reported in a press release.

"This is one of the most interesting leadership positions in the country. I am proud and happy that I have been given this opportunity and I am excited to move to Longyearbyen. Store Norske is in the middle of an extensive restructuring and I am looking forward to solving the challenges together with the employees of the company," says Rune Midtgaard.

Midtgaard is educated at the Norwegian School of Economics and has extensive experience as a leader. For the past two years, he has been a part of the leadership of the food group Scandza.

Store Norske is a wholly state-owned company with headquarters in Longyearbyen. The company was established in 1916 and has been mining on Svalbard for over 100 years. The mining operations are coming to an end and it has been decided that the country's last coal mine, Mine 7, will be closed in 2025. Today, Store Norske is a central actor in Svalbard within property, logistics, and energy.

"We have recruited an experienced and seasoned manager as our CEO. Midtgaard has good knowledge and solid experience with working with stakeholders and that will be crucial in the restructuring we are facing," says the chairman of Store Norske, Annette Malm Justad, and continues: "Store Norske will go from being a coal producer to becoming a central contributor to the green shift in Longyearbyen and the Arctic. That means further developing the company within property, logistics, and Arctic energy. We are confident that Midtgaard with his extensive background will lead this work in a good way."

"Living and working on Svalbard is a dream come true for me, while the job provides me with new challenges and opportunities to use all my competence in leading the company into a new era," says Midtgaard.

Midtgaard will take over after further agreement.