Former CEO of AMAG becomes member of the board of directors of Carvolution

• Carvolution is getting a heavyweight from the automotive industry as a new board member in Morten Hannesbo, former CEO of AMAG.

• Hannesbo was elected to the Board of Directors of Carvolution AG on 21 September 2022.

• Hannesbo is impressed by the potential and rapid growth of the award-winning start-up Carvolution and convinced by the car subscription model.

Bannwil, 22 September 2022 - Car subscription pioneer Carvolution is bringing a heavyweight of the Swiss automotive industry on board with Morten Hannesbo. Hannesbo (59) is a Danish and Swiss dual citizen and was Vice President of auto-schweiz for 12 years and CEO of AMAG for over thirteen years. He led AMAG purposefully and successfully through digitalisation and several growth phases. Hannesbo has worked in the automotive industry for over 35 years, with experience in Germany, France, the UK, Austria, Switzerland and Denmark.

After stepping down as CEO of AMAG 2021, Hannesbo remains committed to the Swiss mobility and automotive industry with a focus on sustainability and, in addition to the new board mandate at Carvolution, also holds mandates at bicycle manufacturer Scott Corporation SA, KSU A-Technik AG and Swiss eMobility, where he acts as Vice Chairman. Hannesbo is also a member of the board of directors at Boyden Switzerland and an ex-co member of the Europa Forum.

In his new role as a board member at Carvolution, Hannesbo will support the young company with his expertise and extensive network to further accelerate its growth. Hannesbo explains his decision: "The mobility of the future will be much more sustainable, transparent and flexible, and our transport users will be connected. We will see enormous changes in the next ten years and at the same time people will be even more mobile than today. With my involvement in Carvolution, I want to contribute to this development."

The Carvolution founding team is delighted about the prominent expansion of the Board of Directors. Olivier Kofler, CEO and co-founder of Carvolution, emphasises: "Today, we have one of the largest fleets in Switzerland, and we need to continue to achieve very ambitious goals. Morten will ask us the right questions, challenge and encourage us, helping to make our plan a reality."

Léa Miggiano, also co-founder and CMO of Carvolution, notes, "Morten is the perfect addition to our Board of Directors. Not only thanks to his many years of experience, but especially because of his attitude towards new business models. His joining our board is a very positive sign for us as a team."