Changes in REC Group Management

Sandvika, October 24; Renewable Energy Corporation ASA (REC) is making changes to Group Management.
The employment of CEO Ole Enger has been extended to July 2014.
After seven years with REC, Bj�rn Brenna EVP & Chief Financial Officer has chosen to take on a position as CFO in the private held company Agra AS.
Kjell Christian Bj�rnsen has been appointed new EVP & CFO. Bj�rnsen joined REC in 2010 and comes from the position of VP Strategy and Business Development. Prior to joining REC, he has worked in finance and strategy in aluminum extrusions (Sapa AB), consumer goods (Orkla ASA) and as a management consultant (McKinsey). Bj�rnsen holds MSc in Chemical Engineering from the Norwegian University of Science and Technology
After eleven years with REC, and after having completed the transition of the REC Solar organization to Singapore and Munich, John Andersen, Jr., EVP & COO has resigned from REC to pursue other opportunities. Andersen will remain available for REC until the end of the year.
 "I want to thank both Bj�rn and John for their significant contributions to the development of REC over many years. Their dedication and professionalism has been vital in a challenging phase for the company", says CEO Ole Enger.
Mikkel T�rud has been appointed SVP Investor Relations and Business Development and becomes a member of REC Group Management. In addition to investor relations and corporate communications, T�rud will take on the responsibility for corporate initiatives related to business development and M&A.
After these changes REC Group Management will consist of the following members, effective from December 1, 2012:
Ole Enger, CEO
Tore Torvund, EVP Silicon
Alessandro Perrotta, EVP Wafers, Cells & Modules
Kjell Christian Bj�rnsen, EVP & Chief Financial Officer
�yvind Hasaas, EVP HR and Organizational Development
Florian Krumbacher, SVP & Chief Legal Officer
Mikkel T�rud, SVP Investor Relations & Business Development

For more information, please contact;

Mikkel T�rud,
Telephone: +47 976 99 144

About REC
REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,400 employees worldwide generated revenues of more than NOK 13 billion in 2011, approximately EUR 1.7 billion or USD 2.4 billion. To see more of what REC can offer, visit

This information is subject of the disclosure requirements acc. to �5-12 vphl (Norwegian Securities Trading Act)