TESS Founder Goes Foundation

Erik Jølberg, CEO and owner of TESS inc.
Erik Jølberg, the CEO and owner of TESS inc. gives his ownership of TESS to a newly established foundation named The Foundation of Erik Jølberg. The purpose is to create a stable, long lasting and predictable ownership of TESS. The contracts with the employees and shareholder-agreements stay unchanged.– TESS has a solid reputation and I think it will be strengthened by this, taken into consideration the donations up to MNOK five million a year from the foundation to charitable purposes benefiting children and young people in the Lier area, says Erik Jølberg.Donations will also be given to support education within industrial marketing, charitable purposes and buying or building real estate in the Årkvisla area of Lier. A prize of 100 000 MNOK will be awarded to a person who has carried out outstanding work for or contribution to TESS. Support will not be given to political purposes.

Strengthening the social responsibility

– We see a growing awareness from sourcing in the public sector in particular, of social responsibility. Now, when we give more than 90 % of the dividends to a foundation for charity for children in the community, we assume this will strengthen our role as a good citizen. Our social responsibility will be strengthened in comparison with our increasing number of international competitors, especially important when participating in public tenders.The operation of TESS and the profile of the company as a specialist of technical trade, remains unchanged. The number of acquisitions is increasing as well as the number of SKU’s (stock keeping units) and the turnover.

An Excited Mayor

The mayor of Lier, Gunn Cecilie Ringdal, is thrilled by the foundation.– A foundation with a charitiy purpose must be the dream of every mayor, she replies.

Donations in August

Both businesses and persons can apply to the foundation for support. When the auditors have approved the company’s accounts, the decision of the amount available will be taken.– I have had the pleasure of meeting Mr. Olav Thon a couple of times. Mr. Thon is the founder of one of the biggest foundations in Norway. The meetings have been very inspiring. While establishing my foundation, I had a peek on his, to learn from it. One of my legal advisers stated: “You are to spend many millions to get to do something better.” I am very proud and hope you will share my pleasure, says Erik Jølberg.TESS turnover in 2018 is above three billion MNOK.

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