---
schema_version: "secwatch.filing_event.v1"
accession: "0001844224-23-000046"
form_type: "8-K"
ticker: null
cik: "0001844224"
company_name: "FREYR Battery"
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T19:11:39.385548+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FREYR Battery appoints Birger Steen as CEO; founder Sjøtveit retires, Jensen becomes Executive Chair

## Summary
- Founder Executive Chair Torstein Dale Sjøtveit retired Aug 9; co-founder Tom Einar Jensen appointed Executive Chair.
- Birger Steen appointed CEO effective Aug 21 (ex-Microsoft/Parallels); also joins Board same date.
- Jensen enters consultancy: $30K/month, 250K options, up to NOK 5.95M bonus tied to Giga America financing by Dec 31, 2023.
- Jensen's Transition Agreement awards 566,667 options (vesting Sept 30, 2023 and June 1, 2024) upon amended performance measures.
- Lori A. Papp, previously VP Financial Reporting, appointed Chief Accounting Officer effective July 1, 2023.

## SEC filing metadata
- accession: 0001844224-23-000046
- form_type: 8-K
- cik: 0001844224
- company_name: FREYR Battery
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/frey-20230810.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001844224-23-000046
- JSON: https://secwatch.observer/filing/0001844224-23-000046.json
- Plain text: https://secwatch.observer/filing/0001844224-23-000046.txt

## Key facts
- Executive change
  Tom Einar Jensen was terminated as Chief Executive Officer at FREYR Battery.
  - Action: terminated
  - Role: Chief Executive Officer
  source text: the Company announced that Mr. Jensen will terminate his employment as CEO on August 21, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm
- Executive change
  Tom Einar Jensen was appointed as Executive Chair of the Board at FREYR Battery.
  - Action: appointed
  - Role: Executive Chair of the Board
  source text: the Company appointed Tom Einar Jensen, Chief Executive Officer (“CEO”) and Director of the Company, as Executive Chair of the Board, effective concurrently with Mr. Sjøtveit’s retirement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm
- Executive change
  Torstein Dale Sjøtveit resigned as Executive Chair of the Board of Directors at FREYR Battery.
  - Action: resigned
  - Role: Executive Chair of the Board of Directors
  source text: On August 9, 2023, Torstein Dale Sjøtveit submitted his formal resignation and retirement as Executive Chair of the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm
- Executive change
  Birger Steen was appointed as Chief Executive Officer at FREYR Battery.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: will serve as the CEO of the Company, effective as of the Transition Date
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm
- Executive change
  Birger Steen was appointed as member of the Board of Directors at FREYR Battery.
  - Action: appointed
  - Role: member of the Board of Directors
  source text: the Company appointed Birger Steen as a member of the Company’s Board of Directors, effective immediately
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844224/000184422423000046/0001844224-23-000046-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.