Telenor has announced a major organizational restructuring aimed at accelerating execution, improving operational efficiency, and strengthening long-term value creation across its telecom and digital business portfolio.
The restructuring aligns with the strategic priorities and financial goals outlined during the company’s Capital Markets Day in November 2025. Telenor said the new structure is designed to simplify operations, bring decision-making closer to customers and local markets, and support its long-term EBITDA growth and free cash flow targets through 2028 and 2030.
Under the new framework, Telenor will replace its four existing business areas – Nordics, Asia, Amp, and Infrastructure – with a more country-centric operating model. The move is expected to reduce administrative costs while improving agility across the company’s telecom operations.
Nordic CEOs Join Telenor Group Management
A key change in the restructuring is the removal of the Nordic Business Area management layer. CEOs of Telenor’s Nordic operations will now report directly into Group Management, enabling faster market-focused decision-making and stronger alignment between customer priorities and financial strategy.
The updated Group Management structure will take effect on August 18, 2026, under the leadership of President and Group CEO Benedicte Schilbred Fasmer.
New Leadership Structure Focuses on AI, Telecom Transformation and Operational Efficiency
Torbjorn Wist will continue as Group CFO, overseeing financial discipline, capital allocation, and performance management. Telenor highlighted his 15 years of experience within the company and his telecom-focused investment banking background.
Jon Omund Revhaug has been appointed Chief Technology and Transformation Officer. The new role will focus on technology-driven simplification, transformation initiatives, and cross-business operational synergies across Telenor’s global telecom footprint.
Inger Gloersen Folkeson will lead corporate development and future revenue initiatives. Her portfolio includes AI Factory, Skygard, Sovereign Cloud, and the current Telenor Amp assets, highlighting Telenor’s increasing focus on AI infrastructure, cloud services, and digital platform growth.
Telenor also confirmed the following leadership appointments:
Birgitte Engebretsen – CEO, Telenor Norway
Jonas Edén – CEO, Telenor Sweden
Jussi Tolvanen – CEO, DNA Finland
Lars Thomsen – CEO, Telenor Denmark
Telenor said recruitment is still ongoing for the Head of Telenor Asia, which will continue operating as a standalone business unit alongside Nordic operations.
AI and Digital Capabilities Central to Future Growth
The restructuring also places stronger emphasis on AI and digital transformation capabilities. Elisabeth Melander Stene will focus on building AI and digital competencies across the workforce to support transformation and future value creation initiatives.
Meanwhile, Thomas Midteide will lead communications, brand, sustainability, and corporate affairs functions.
Siri Birgitte Bang Berge will continue serving as General Counsel and advisor to the CEO.
Telenor Targets EBITDA Growth and Higher Free Cash Flow
Telenor said the simplified organizational model will support its broader operational excellence initiatives and financial ambitions announced during CMD 2025.
The telecom operator is targeting low-to-mid single-digit EBITDA growth alongside material improvements in free cash flow and return on capital over the coming years. The company expects the streamlined structure to enhance customer excellence, accelerate transformation initiatives, strengthen operational efficiency, and improve capital allocation discipline across its telecom and digital services businesses. Telenor added that an updated segment reporting structure will be announced at a later stage.
SHAFANA FAZAL