Oda-gründer blir ny styreleder i Vestre

Karl Munthe-Kaas, co-founder and former CEO of online retail company Oda, has been appointed as the new chairman of furniture company Vestre, according to a press release from the company. Munthe-Kaas expressed his long-standing support for Vestre, praising its strong products and ambitious goals, stating he looks forward to contributing to the company's further development.

Vestre was founded in Haugesund in 1947 and has since grown into an international player, producing home furnishings, including pieces found in Times Square, New York. Current Health Minister Jan Christian Vestre, who previously served as the company's CEO, stepped down from his active roles in the family-owned business upon taking up his position as a state councillor.

Munthe-Kaas succeeds Kristoffer Vestre, who has held the position of chairman since 2021 and will continue as director of Vestre's North American operations. The release highlights Munthe-Kaas' extensive experience in building and developing companies, noting he brings valuable expertise in strategy, technology, and scaling, which the company needs as it aims to grow further.

Vestre faced significant challenges in 2025 with a 11.9 million kroner loss, attributed to trade wars and Trump tariffs. The company reported a loss of 11.9 million kroner in the previous fiscal year, with Health Minister Vestre owning 70% of the company. Vestre emphasizes that its revenue has doubled since 2019.