Skip to Content

Norway’s Opera Software reshuffles board after power struggle

Key shareholders in Opera Software ASA have reshuffled the board of directors after a reported power struggle between board members and the company’s chief executive and founder, Jon S. von Tetzchner.

Five of the seven board members, including chairman Nils A. Foldal, were fired at a shareholder’s meeting Thursday, company spokesman Tor Odland said.

They were replaced by three new board members, and the total number of board members was reduced to five.

Norwegian business daily Dagens Naeringsliv reported that the move came after the ousted board members failed to remove Tetzchner as head of the company, which makes Web browsers for mobile phones and personal digital assistants.

The paper reported that the board was growing impatient with Tetzchner because of the company’s poor performance – the share price has dropped more than 50 percent in the past year.

The chief executive declined to comment on the power struggle but told Dagens Naeringsliv he had no plans to step down.

”I feel that I have an important job for the company, shareholders and the board,” Tetzchner was quoted as saying.

The board reshuffle was backed by shareholders holding 80 percent of the company’s shares, including Tetzchner, who holds a 15 percent stake through the investment group Amadeus Invest II AS.

William J. Raduchel, a former senior vice president and chief technology officer at AOL Time Warner, was appointed as the new chairman.

Opera Software shares were up 7 percent at 15.40 kroner (euro1.92; US$2.57) Friday afternoon in Oslo.

Keep Reading

Most Popular

Here’s how a Twitter engineer says it will break in the coming weeks

One insider says the company’s current staffing isn’t able to sustain the platform.

Technology that lets us “speak” to our dead relatives has arrived. Are we ready?

Digital clones of the people we love could forever change how we grieve.

How to befriend a crow

I watched a bunch of crows on TikTok and now I'm trying to connect with some local birds.

Starlink signals can be reverse-engineered to work like GPS—whether SpaceX likes it or not

Elon said no thanks to using his mega-constellation for navigation. Researchers went ahead anyway.

Stay connected

Illustration by Rose Wong

Get the latest updates from
MIT Technology Review

Discover special offers, top stories, upcoming events, and more.

Thank you for submitting your email!

Explore more newsletters

It looks like something went wrong.

We’re having trouble saving your preferences. Try refreshing this page and updating them one more time. If you continue to get this message, reach out to us at customer-service@technologyreview.com with a list of newsletters you’d like to receive.