At Telenor, Ouchterlony will head a newly established unit, named Adjacent Business, taking up his role on Sept. 19. The next day Telenor will have a capital markets day, at which Ouchterlony has promised to outline with what kind of adjacent business he is supposed to work.
Ouchterlony worked a short notice period, but Telenor and Schibsted have always had a close relationship. Schibsted’s CEO, Kristin Skogen Lund, previously headed the digital transformation of Telenor, and the leading managers in the two companies know each other well.
One pressing item on Ouchterlony’s to-do list could be to fix Telenor’s investment in Carousell, the leading classified group in Greater Southeast Asia, in which Telenor has a 32% stake.
Carousell is working in former Schibsted territory but is not very profitable. In Telenor’s latest quarterly report, for Q2, Telenor noted that it had had to write off a loss for Carousell of NOK 61 million ($6.3 million). Telenor incurred another loss with a company called Telenor Microfinance Bank, which cost it NOK 54 million. Finance and fintech is one of Ouchterlony’s specialties.
Presenting Telenor’s new leadership team, its CEO stressed that the company was ramping up its efforts to develop existing and potentially new services.. Sigve Brekke, Telenor Group president and CEO, can probably rely on the support of managers from Schibsted in doing that.
Launched in Singapore in August 2012, Carousell is now one of the world’s largest companies in its field, and the leading classified group in Greater Southeast Asia. It is active in eight markets, where some of its sites once had Schibsted as owner or part owner.