Grieg Seafood ASA has confirmed that Andreas Kvame has agreed with the Norwegian salmon farming company’s board of directors that he is stepping down as CEO after 10 years in the position. The board has initiated the search process for a new CEO.
Nina Willumsen Grieg, Regional Director of Grieg Seafood Rogaland, has been appointed interim CEO, with Andreas Kvame supporting the CEO transition process.
At the same time, Per Grieg Jr will step down as Chair of the Board of the Company to take the position as a regular board member. Vice-Chair of the Board, Paal Espen Johnsen, is taking on the role as Chair of the Board until the company’s next general meeting.
Johnsen commented: “Andreas Kvame has led Grieg Seafood for a decade. During his time as CEO, he has set the agenda for and executed the successful post-smolt strategy. He has played an instrumental role in developing Grieg Seafood into an international fish farming company with integrated operations. The strategic direction for the company remains firm. The work is ongoing, and I am confident that the measures will yield results. On behalf of the board, I would like to thank Andreas for his contributions over the years.”
Kvame said: “It has been a true privilege to lead Grieg Seafood for more than 10 years, and I want to thank all of my colleagues for their efforts. A main priority has been the development of post-smolt production, which I strongly believe will play an important part in the future of the entire salmon farming industry. Currently it is a challenging time for Grieg Seafood. As a result of the financial transformation program initiated, the company has been stabilised financially and is positioned to take the measures needed for operational improvements. I wish my successor the best of luck and believe Grieg Seafood has a bright future ahead.”
A statement issued by Grieg Seafood advised that in February, the company initiated a financial transformation program, aiming to transform it into a focused Norwegian seafood producer, concentrating on core operations in Rogaland and Finnmark.
“By streamlining the company’s portfolio and reinforcing its financial foundation, Grieg Seafood is positioning itself for a return to profitability and long-term sustainable growth in its home market. This programme will be executed as planned,” it said.
