Ann-Beth Freuchen has been appointed as the new CEO of Norway-based dairy group Tine, effective from 1 October. She takes over from Gunnar Hovland, who has moved on to become CEO of renewable energy company Aneo.
Freuchen brings a wealth of experience to her new role, having previously served as deputy CEO and EVP of commercial functions at Tine. Prior to joining Tine, she worked at Nordic food group Orkla for 25 years, holding various positions including EVP of Orkla Foods Nordics and Baltics and chief executive of the confectionery and snacks business.
“I have strong faith in what the future will bring, and look forward to creating value for both customers and owners, together with a large team of competent people with a heart for Tine,” said Freuchen. “Together with our skilled owners, we ensure a vibrant Norway with food production throughout our long country, both through our well-known brands, but also through an important social mission.”
Tine chairman Marit Haugen emphasized the importance of commercial success and the selection of a new CEO. Haugen stated that Tine must be the consumer’s and customers’ first choice in a challenging market with falling milk consumption, significant imports of dairy products, and strong competition. Haugen believes that Freuchen’s extensive experience in developing winning teams will deliver top results.
In 2022, Tine generated sales revenue of NKr24.87bn ($2.33bn), marking a 3.4% increase from the previous year. However, the company’s operating profit declined by 27.1% to NKr1.26bn, primarily due to higher raw material, energy, and transport costs. Tine remains focused on addressing these challenges and driving further growth in the food and beverage industry.
Overall, the appointment of Ann-Beth Freuchen as Tine’s CEO demonstrates the company’s commitment to innovation, market leadership, and delivering value to its customers and stakeholders. With her extensive expertise and a dedicated team, Tine is well-positioned to navigate the evolving food and drink consumer trends and continue to make a significant impact in the industry.
