"It is an important milestone that the fund’s market value passed NOK 10 trillion on 25 October. I am proud of having been part of building up a leading international investment organisation with talented and professional employees. We have delivered good returns for the best of our nation," Yngve Slyngstad says.

"The Executive Board is very satisfied with the management of the fund under Yngve Slyngstad’s leadership. Over these 12 years, the fund has delivered very good results and the fund has achieved a strong position internationally and in Norway. Yngve Slyngstad has been a distinct leader of Norges Bank Investment Management and developed a leading and global investment organisation," says Øystein Olsen, Chair of the Executive Board.

The Executive Board will now start searching for a new CEO of Norges Bank Investment Management. After a new CEO has taken up the position, Slyngstad will continue in the fund, and contribute to the further development of the investment strategy. His responsibilities will include building up unlisted renewable energy infrastructure as a new investment area.

"Slyngstad’s experience and insight will help ensure that this investment area is established in a good way," Olsen says.

Press contacts:
Thomas Sevang, Head of Communications and External Relations, Norges Bank Investment Management
Tel: +47 926 01 756 / +47 24 07 32 76

Marthe Skaar, Manager Communications and External Relations, Norges Bank Investment Management
Tel: +47 926 17 663 / +47 24 07 35 61

E-mail: press@nbim.no