Birger K. Steen is the CEO of FREYR Battery, a company focused on sustainable energy solutions. He joined in August 2023, bringing a wealth of experience from various tech and business roles. Steen has a diverse educational background with degrees...

Birger K. Steen is the CEO of FREYR Battery, a company focused on sustainable energy solutions. He joined in August 2023, bringing a wealth of experience from various tech and business roles. Steen has a diverse educational background with degrees in Computer Science, Industrial Engineering, and an MBA from INSEAD. Before FREYR, he served as CEO of Parallels, Inc. and held senior roles at Microsoft, where he focused on distribution and business development. He also worked as a consultant at McKinsey & Company. Birger is known for his global perspective, having worked in multiple countries, including Norway and Russia. In 2023, he received a total compensation of about $1.8 million, which included a $276,500 salary and significant stock options to align his interests with the company’s long-term performance. He is currently the Chair of the Board for several companies and has previously played key roles in ventures that had significant impacts on technology and energy. His leadership aims to drive FREYR toward success in the fast-evolving battery technology market, emphasizing safety and company reputation while navigating challenges in the industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other FREYR Battery CEOs

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Birger K. Steen

Ex-CEO of FREYR Battery

Education

Master of Science in Computer Science and Industrial Engineering from the Norwegian Institute of Technology, degree in Russian language from the Defense School of Intelligence and Security, MBA from INSEAD

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

January 1, 1968 - 57 years ago

CEO of FREYR Battery for

0 years 9 months (Aug 2023 - Jun 2024)

Previous Experience

Principal and Thematic Partner at Summa Equity AB, CEO of Parallels, Inc., VP at Microsoft Corp., CEO of Scandinavia Online, VP of Business Development at Schibsted ASA

Rivals

Competitors/colleagues of Birger K. Steen

Holdings

See how much did Birger K. Steen make over time.

As of 2023, Birger K. Steen received 468,630 non-qualified stock options at FREYR Battery, which will vest over three years. His holdings are significant, indicating a large portion of his wealth is tied to the company's performance. These stock options...

As of 2023, Birger K. Steen received 468,630 non-qualified stock options at FREYR Battery, which will vest over three years. His holdings are significant, indicating a large portion of his wealth is tied to the company's performance. These stock options represent a strategic move to align his interests with those of shareholders. This aligns with the company's philosophy of compensating executives based on performance rather than fixed salaries. Having joined in 2023, his holdings have the potential for significant growth alongside the company's success in the battery sector. This equity stake complements his total compensation, which for 2023 was around $1.8 million, highlighting a strong incentive for him to drive company growth.

Insider Trading

See recent insider trades of Birger K. Steen.

No insider trades found for this CEO.

Compensation History

See how much did Birger K. Steen make over time.

In 2023, Birger K. Steen's total compensation at FREYR Battery was approximately $1.8 million. This included a base salary of $276,500 and a significant grant of 468,630 stock options, which highlights his alignment with the company’s success. He did not earn a cash bonus due to unmet performance thresholds, but the stock options are designed to ensure he benefits when the company does well. His pay structure reflects a common approach in the tech and energy sectors, focusing more on equity to motivate leadership toward achieving long-term goals. Considering his role and responsibilities, the compensation package is structured to attract and keep talent while also holding them accountable for performance metrics set out by the company.

Year

2023

Total Compensation

$346.26K

Salary

$276.50K

Board Justification

The compensation philosophy aims to attract and retain talented executives, aligning their interests with the company's performance and stockholder value.

Bonus

$0.00

Board Justification

No STIP was earned by any of the NEOs related to 2023 performance due to threshold requirements not being achieved.

Other

$69.76K

Board Justification

Includes defined contribution plan contributions, life and health insurance, and relocation support expenses.

Restricted Stock

$0.00(0 RSU)

Board Justification

No RSUs were granted to Mr. Steen in 2023; therefore, no stock vested in 2023.

Performance Metrics

Performance metrics include achievement of key milestones, safety, and company reputation.

Other FREYR Battery CEOs

Here are other CEOs of FREYR Battery

Tom Einar Jensen

Founder and Ex-CEO of FREYR Battery

July 2021 - August 2023

Tom Einar Jensen

Founder and Ex-CEO of FREYR Battery

June 2024 - November 2024