Oslo/Trondheim, 22 May, 2014: Q-Free has conducted a revision of the
company strategy, and will make organisational changes in order to
strengthen Q-Free's market position. CEO Thomas Falck will extend his
employment contract through 2014 in order to secure a successful
implementation of the changes.
Going forward, Q-Free will operate three business areas; Road User
Charging (RUC), Advanced Transportation Management Systems (ATMS), and
the new business area Managed Services (MS). The latter will focus on
commercialising new recurring revenue concepts to strengthen the revenue
base and profitability, and increase the financial predictability.
At the same time, the geographical split will be changed to; "the
Nordics", "North America", "Europe & Latin America", and "Asia, Middle
East and Africa" - each operating under dedicated regional management.
Q-Free will continue its R&D efforts to stay at the forefront of market
developments with a broader portfolio. The company will also continue
building its ATMS business area, both organically and through
acquisitions.
Overall, these changes will enable Q-Free to provide a broader portfolio
of products and value added services to its customers, and at the same
time strengthen Q-Free's position as an industry leader.
The organisational changes will take effect from 1 June 2014.
"Since taking over the role as CEO in Q-Free, I have spent much time
with both employees and customers. This has given me insights into an
organisation with great potential. The strategic and organisational
changes will enable us to realise more of this potential," says CEO
Thomas Falck.
Falck was appointed CEO on 6 January 2014, on an initial six-month
contract. Falck will continue as CEO for an additional six months to see
the changes implemented.
"I would like to thank all our employees for their dedication and
support to the process leading up to these changes. I am looking forward
to continue working as a team to further strengthen Q-Free's position as
a truly global player in the Intelligent Transport Systems market," says
Falck.
"Q-Free has undergone an important and thorough revision of the company
strategy over the last months, and it is important to make sure that the
new strategy is successfully implemented. Thomas Falck has proven to be
a valuable asset for Q-Free, first as a board member and now as CEO. We
are therefore glad that Falck has accepted to extend his employment
contract," says Terje Christoffersen, Chairman of the Board in Q-Free
ASA.
For further information, please contact:
Chairman of the Board Terje Christoffersen, cell: +47 928 29 500
CEO Thomas Falck, cell: +47 468 00 767
CFO Roar Østbø, cell: +47 932 45 175
About Q-Free
Q-Free is a leading global supplier of products and solutions within
Road User Charging and Advanced Transportation Management Systems. The
company has approximately 350 employees in 17 countries and is
represented on all continents. The company's main offices are in
Trondheim, Norway. Q-Free is listed on Oslo Stock Exchange under the
ticker QFR.
www.q-free.com
Twitter: @Q-FreeASA