Icelandic food processing technology supplier KAPP ehf has announced a leadership transition at the top of the company, with founder and owner Freyr Friðriksson moving from CEO to chairman of the board, effective 9 January 2026. Deputy CEO Ólafur Karl Sigurðarson has been appointed as the company’s new chief executive.
The change follows a year of rapid expansion for KAPP, which in 2024 doubled both its workforce and revenues on the back of acquisitions and accelerated international market development.
Founded 27 years ago by Freyr Friðriksson and his wife Elfa Hrönn Valdimarsdóttir, KAPP has grown from a start-up into an international provider of refrigeration, freezing and processing solutions for the global food industry. The company serves seafood processors, aquaculture producers, poultry companies and other industrial customers.
Recent strategic milestones include the acquisition of Seattle-based KAMI Tech Inc, giving KAPP manufacturing capacity in the United States, and the purchase of all assets and patents from the bankruptcy estate of Skaginn 3X, significantly strengthening the company’s high-technology portfolio.
“I founded KAPP with nothing but determination 27 years ago, at just 23 years old. This is not a departure,” Friðriksson said. “I am transitioning to the role of chairman to oversee the company with a broader strategic perspective. Ólafur Karl is ready to lead KAPP forward, and I have complete confidence in his ability to build on our momentum.”
Friðriksson will continue to work closely with management in his new role, focusing on long-term strategy and governance as the company integrates its recent acquisitions and pursues further international growth.
Ólafur Karl Sigurðarson joined KAPP as deputy CEO in August 2024 and brings extensive industry experience to the role. He previously spent nine years at Marel, where he held several senior positions, including executive vice president of the Fish Division, managing director of Marel Iceland, and a seat on the company’s executive team.
“The year ahead will focus on building on this strong foundation, deepening customer relationships, optimising our expanded operations and continuing our growth trajectory,” Sigurðarson said. “I look forward to working closely with KAPP’s talented team and our customers worldwide.”
