Q-Free: Strategic and organisational changes

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