Karl Vestli (53) has been hired as the new CEO of TONO, and will take up the position on October 1.
/ 10/08/2022 / Willy Martinsen
– I look forward to working on the assignment I have received from TONO's board, which is to further develop the company together with the board, employees and members. I also look forward to working in an industry in rapid development, and to seeing how TONO can exploit all the opportunities that digitalization and technology provide. TONO is an established brand name in Norway, and has long had strong and stable growth. This does not come by itself, but is due to a competent organization and leadership. It is the best starting point for further development and change a new CEO can have, says Vestli.
Vestli joins TONO from the Directorate for e-Health, where he was divisional director for strategy and for a period also served as CEO. He also has an extensive background in the media industry, as executive vice president for user revenue at Schibsted Norway, reader market director at Aftenposten, and circulation director at Dagens Næringsliv. Vestli also has a background as a consultant at Accenture, where he worked on digital development projects and project programs within strategy, sales and marketing.
TONO's chairman Jørgen Karlstrøm is confident that Karl Vestli is the right person to lead TONO into the years ahead:
– Vestli has led a number of development processes related to digital transformation, business development, and system and product development. He is described as a development-oriented and unifying leader with great execution skills, and who can point to concrete, good results. He has impressed TONO's board during the hiring process. We agree that Karl is the right man to further develop TONO to meet the demands that face us now and in the future, says Karlstrøm.
Cato Strøm started as legal advisor at TONO in January 1983, and took over as CEO in 1989. In his first year as CEO, TONO had a turnover of NOK 68,1 million. In 2021, this had increased to NOK 843,9 million. Strøm will be affiliated with TONO for a period of time after October 1. Throughout Strøm's time as CEO at TONO, he has been responsible for total revenues of approximately NOK 11 billion, with the 2021 result being TONO's highest ever.
- It has been a privilege and a pleasure, together with fantastic colleagues, to see TONO grow into one of the most profitable and cost-effective collective management companies in the world. A sought-after repertoire, good legislation and good strategic organizational choices mean that we as a company are where we are today. Karl Vestli joins TONO at an exciting time, where the company is in an increasingly competitive situation and faces strong demands from members and customers. TONO has also taken a step into the world by directly licensing our repertoire in the digital area in a wide range of countries. I am confident that TONO under Vestli's leadership will continue the good trend, and contribute to further gains for both Norwegian and foreign composers, lyricists and music publishers who receive important income for the use of their music from TONO, says Strøm.
TONO was founded in 1928 and is a non-profit cooperative owned and managed by composers, lyricists and music publishers, and which, on their behalf, manages the economic copyrights in the music they have created. TONO grants permission for the use of protected music on radio, TV, the internet, concerts and cinemas, etc., for a fee, and transfers its financial results each year to the rights holders of music that has been played publicly. TONO has more than 38,000 members in Norway, but also works for millions of authors and music publishers from around the world. TONO gives music creators an economic basis to create new music, and collects and simplifies the licensing of protected music to music users. TONO had a turnover of NOK 843,9 million in 2021.
Jørgen Karlstrøm, Chairman of the Board of TONO, jorgen@komponist.no, mobile 957 25 736
Karl Vestli, new CEO of TONO from October 1, kvestli@gmail.com, mobile 932 56 020
Cato Strøm, CEO of TONO until 1 October, cato.strom@tono.no, mobile 922 16,319
Willy Martinsen, Communications Director at TONO, willy.martinsen@tono.no; mobile 909 65 254