Norican Global A/S ("Norican Group"), a majority-owned, private equity 
portfolio company of Altor Fund IV Holding AB ("Altor"), was informed yesterday 
by Robert E. Joyce, Jr of his intent to resign his duties as President and CEO, 
and as a director on the Norican Group's board, effective Sunday March 31, 2019.

"After seventeen years of leading this great organization and having just 
recorded record revenue and EBITDA performance in 2018, the time is right for 
Norican to pursue its next phase of strategic leadership," commented Mr. Joyce. 
"While I am proud of what our team has accomplished since 2002, the time has 
come for a fresh approach to Norican's journey.  In discussions over the past 
few months with Norican Group's Chairman, Mr. Jean-Marc Lechêne, and with 
Altor's lead partner Mr. Søren Johansen, we agreed that it was the proper time 
for the team to implement a transition of leadership. Accordingly, I will be 
resigning my responsibilities as a Board Director, President and CEO this 
coming Sunday, while remaining a significant shareholder through the balance of 
Altor's investment period."

Mr. Joyce closed with this observation, "It has been my great privilege to work 
with such a dedicated and professional team over the course of my career. I ask 
that they continue to show the same level of dedication and professionalism to 
my successor." 

"It is with a lot of emotion that we say goodbye to Rob today," said Mr. 
Lechêne. "During his long tenure, he has established Norican as a worldwide 
leader in parts formation and parts preparation while building a great team.  
Rob can take legitimate pride in what he has achieved!  And, on behalf of the 
entire Board of Directors, I wish him every success and satisfaction in this 
new chapter of his life that is opening."

www.noricangroup.com

www.altor.com 


SOURCE: Norican Group A/S