Jan Reinås
Jan Audun Reinås (19 July 1944 – 13 August 2010) was a Norwegian businessperson.
Early career
Reinås was educated in business administration through the
Later career
Reinås was
Controversy
Reinås received criticism for his decisions both as CEO of Norske Skog and as Chairman of Norsk Hydro. In the ten years he led Norske Skog, the company grew enormously, concentrating solely on newsprint and purchasing other plants for NOK 50 billion. At the same time the corporation sold non-newsprint mills, power stations, forest properties and other non-core activities. After Reinås retired, critics felt that he had left Norske Skog in a strategic impossible situation. The newsprint market was falling constantly, primarily because of over production in North America as well as because of reduced circulation of newspapers. This has left the newsprint market in chronic overproduction, making profitability impossible. Unlike other large paper corporations, such as Stora Enso, Norske Skog was left without other types of paper production to support it. By 2007 the share value was under the 1993 level, and the company was constantly struggling before filing for bankruptcy in 2017.
Death
He died at the age of 66 of cancer.
References
- ^ Økonomisk Rapport (2002-07-24). "Årets leder 2000: Papirkongen" (in Norwegian). Archived from the original on 2007-08-07. Retrieved 2009-01-17.
- ISBN 82-91448-01-9.
- ^ Norsk Hydro (March 2007). "Jan Reinås elected as new Chairperson of the Board of Directors in Hydro".
- ^ Norsk Hydro (2007-08-05). "Reinås resigns as Hydro's chairman". Archived from the original on 2007-11-04.