Welltec^® Corporate Executive Management

The corporate executive management at Welltec comprises our company’s founder and CEO along with a group of corporate officers each with separate responsibilities. All members of Welltec’s corporate executive management have extensive experience from different types of industry, thus ensuring a continued, strong governance of the company.

Jørgen Hallundbæk

Founder and Chief Executive Officer (CEO)

Overall responsible for the team of Welltec.

Spurred by work on 3D wave simulations for design of
offshore platforms, slim hole drilling and geotechnical surveys,
Mr. Hallundbæk founded Welltec in 1994 – materializing a vision that since has transformed the way the oil and gas sector operates by introducing technology which enhances the recovery rate and least lowers the environmental risk and impact compared to traditional technology.

With great success Mr. Hallundbæk has developed the business from a minor subcontractor into a direct contractor to the world’s leading oil and gas companies.

Mr. Hallundbæk still plays an active role in the development of new technology and has authored many SPE papers.

The environment is highly prioritized by Mr. Hallundbæk, which is why he from the start has designed all Welltec’s technologies around principles that safeguard the environment.

Mr. Hallundbæk holds an MSc in Engineering, Naval Architecture from the Technical University of Denmark.

Jesper Helmuth Larsen

Chief Financial Officer (CFO)

Responsible for the global finance function.

Mr. Jesper Helmuth Larsen holds an MSc in Economics from the University of Aarhus, Denmark, and has also studied finance at
the University of Chicago, USA.

He has improved his skills further within the fields of business leadership and leadership communication at INSEAD in France.

Mr. Larsen joined Welltec in 2008 and has previously held the position as CFO and Executive Vice President at a well respected telecom company with businesses all over Europe.

Having spent several years abroad, Mr. Larsen also brings with him a great deal of international experience.

Lars Mangal

Chief Commercial Officer (CCO)

Responsible for Welltec's global commercial activities.

Mr. Mangal joined Welltec in 2010 and brings with him extensive international oilfield services experience, following 20 years of
working for the largest oilfield service firm Schlumberger Ltd.

Mr. Mangal has managed multiple major business units in Schlumberger Ltd including establishing new businesses in the subsea domain, most recently he was global Vice President of Well Stimulation Services for Schlumberger. Mr. Mangal provides highly relevant new business and new market experience to Welltec.

Mr. Mangal graduated from the University of Napier, Edinburgh with an honors degree in Mechanical Engineering (energy), following which he attended a post graduate program in International Law and Business at Strathclyde University, Glasgow, sponsored by Shell UK plc.

Peter Hansen

Chief Operating Officer (COO)

Responsible for Welltec Global Operations.

Mr. Hansen holds a MSc in International Business from Aarhus
School of Business, Denmark, and HEC Montréal, Canada.
Mr. Hansen has served with the Royal Danish Air Force as Captain.

Mr. Hansen joined Welltec in 2010, having most recently served as COO of the PE Fund owned BTX Group A/S and prior to that as Supply Chain & IT Director for the public company IC Companys A/S.

Previously, Mr. Hansen held management positions within Business Development at the Carlsberg A/S and Coca-Cola Nordic Beverages A/S. After his graduation, Mr. Hansen served as a management consultant with McKinsey & Co, based in Copenhagen and Johannesburg.

Niels Falkenberg

Chief Technology Officer

Responsible for Development, Engineering & IT

Mr. Falkenberg joined Welltec in 2011 and brings with him extensive international knowledge about product development. As a development executive/manager, Mr. Falkenberg has for the past 17 years been heading various development organizations in companies like Danfoss, Sony-Ericsson and Ericsson.

In Danfoss’ Power Electronics division, Mr. Falkenberg was responsible for R&D and holding board positions in several group operations and companies. Going through periods of product development during “hyper grow” this will be valuable for Welltec going forward.

Mr. Falkenberg graduated from the Technical University of Copenhagen with a Master degree in Engineering (computer science) and holds an executive MBA from Henley Management School in UK.