Board of Directors

Mr. Thorsen (b. 1956) currently works as a board member, consultant and private investor. Previous working experience includes; CEO of Renewable Energy Corporation ASA from 2005 to 2009, CEO of Tomra Systems ASA from 1986 to 2005 and various executive sales and marketing positions in Unitor ASA from 1981 to 1986. Mr. Thorsen is the Chairman of the boards of Energreen AS, Zeropex AS, Metallkraft AS and Eltek ASA. He also served as Chairman of the Board of Eltek ASA from 2000 until February 2009. He holds a Bachelor of Commerce degree from University of Karlstad, Sweden. Mr. Thorsen resides in Oslo, Norway. He has 12,500 shares and 0 stock options.

Hugo Maurstad (b. 1965) holds a Master of General Economics from the Norwegian School of Management and is a partner at Altor Equity Partners, the investment advisor for the Altor funds. Before joining Altor Equity Partners in 2004, he was a Director with McKinsey & Company for over 13 years. During his last four years, Mr. Maurstad led McKinsey’s office in Norway. Prior to joining McKinsey, Mr. Maurstad was the managing director of Lefac AS, a Norwegian based leasing and financing company. He is a Norwegian national and resides in Oslo, Norway. Mr. Maurstad is the Chairman of the boards of Lindorff AS, Navico Holding AS, Helly Hansen Group AS, Relacom AS and Ketlav Invest AS. In addition, he is a member of the board of SPT Group AS, Constructor Norge AS and AGR Group ASA. Ketlav Invest is owned by Altor Fund III GP Ltd. and holds 66,067,732 shares in Eltek ASA. Mr. Maurstad has served as a board member since 17 March 2011 and he resides in Oslo, Norway. He has 0 options.

Since 1993, Mr. Crown (b. 1963) has been employed by CC Industries, Inc., where he is currently President and CEO. Mr. Crown is also a General Partner of Henry Crown and Company. Prior to 1993, Mr. Crown was Director of Yield Management Operations for American Airlines Corporation, a company he joined in 1987. He holds a Master of Science degree in Industrial Engineering and Engineering Management from Stanford University. Mr. Crown has served as a board member since 16 October 2000. He was Chairman of the Board from 23 September 2010 to 19 May 2011. Mr. Crown is an American citizen and resides in San Francisco, California, US. Mr. Crown controls 77,389,777 shares and 0 share options.

Since May 2000 Birgitte Feginn Angelil (b. 1968) has served as a senior advisor of Creuna, a Norwegian Scandinavian digital branding agency. Previous working experience includes advisor in Burson Marsteller from 1995 to 2000, and key account manager in a PR company, Scna PR. She holds a Bachelor of Business and Marketing from BI Norwegian School of Management. She has extensive experience in the fields of corporate branding, corporate communication and project management. Mrs. Angelil has been a member of the Board of Eltek since May 2008, Her business address is with Creuna, Karenslyst Alle 9b, Oslo, Norway. The Angelil family controls 58,397,657 shares in Eltek ASA. Mrs. Angelil has 0 options.

Mrs. Weil (b. 1951) has served as Chairman of a private secondary school in Chicago, Illinois since 2002.  Prior to this she had a long career as a senior level executive in several businesses in the telecom industry. Mrs. Weil was CFO and a founding team member of GTE Airfone. Mrs. Weil was a founder and general manager of both Railfone and Magna-Star which placed phones on Amtrak trains and private and military aircraft respectively. Mrs. Weil was also CEO of IDRC (a call center firm) and Mercantec (internet software). Mrs. Weil also serves on a number of non-profit boards. Mrs. Weil holds a bachelor’s degree, cum laude, in economics and history from the University of Illinois, Champaign-Urbana. Mrs. Weil has served as a Board member since 8 May 2008. Mrs. Weil is an American citizen and resides in Winnetka, IL, USA. Mrs. Weil’s husband, Edward S. Weil Jr., controls three trusts which in total own 6,657,323 shares. Mrs. Weil has 0 options.

Mr. Hvide (b. 1963) is the Executive Chairman of Northland Resources S.A. Previously he served as Partner at Pareto Private Equity ASA, and Partner and Managing Director of Metals & Mining, Corporate Finance at Pareto Securities AS. Mr. Hvide has extensive M&A experience and has provided financial and corporate advisory services to companies in a range of industrial sectors. Before joining Pareto in 2000, Mr. Hvide was Vice President of Finance at Crew Development Corp. and Managing Director of Mindex ASA. He is the Chairman of Sølvtrans Holding ASA. Mr. Hvide holds an MBA from Harvard University, Management School of Business Administration and a Bachelor from University of Southern California, Los Angeles. He resides in Oslo, Norway. He has 0 shares and 0 stock options.

Anne Jorun Aas (b. 1972) is deputy CEO at Xyntéo, an international strategic advisory firm that helps global businesses to go beyond the green basics and reinvent the way they grow. Prior to this she was  responsible for Strategy and Organization in Scatec Solar, a company that develops, builds, operates and owns photovoltaic solar assets. She joined Scatec Solar from a position as the COO in its parent company, Scatec AS. Prior to Scatec, Ms. Aas spent seven years at McKinsey and Company. Anne Jorun Aas holds a PhD in Nuclear Chemistry from the University of Oslo in combination with CERN (Geneva) and the University of Uppsala, Sweden. She resides in Oslo, Norway. She has 0 shares and 0 stock options.

Mr. Hafnor (b. 1962) is a representative of the employees of Eltek. Mr. Hafnor holds a B.Sc degree in technical cybernetics from Buskerud University College (HiBu). Mr. Hafnor has been working for Eltek first in 1984-1985 and now since 2005. His current position is senior mechanical designer. Prior to his latest employment with Eltek, he was working for Powec/Power-One as a research engineer and project manager. Mr. Hafnor was elected as an employee representative in May 2012. He is a Norwegian citizen and resides in Drammen, Norway. Mr. Hafnor owns 12,173 shares and 1,500 stock options.

Mr. Larsen (b. 1970) is a representative of the employees of Eltek. Mr. Larsen holds a B.Sc degree in electronics from Vestfold University College (HIVE). Mr. Larsen has been working for Eltek since 2001 and his current position is Global Manager, Engineering & Supplier Processes. His previous position in Eltek was Engineering Manager for 10 years. Prior to joining Eltek, Mr. Larsen was employed by Aker Geo as Chief Observer. Mr. Larsen was elected as an employee representative in May 2012. He is a Norwegian citizen and resides in Larvik, Norway. Mr. Larsen owns 0 shares and 4,000 options.