Marine Harvest CEO steps down


SeafoodSource staff

Published on
March 23, 2010

Marine Harvest CEO Åse Aulie Michelet is stepping down from her post, effectively immediately.

The Norwegian farmed salmon company announced on Wednesday that its board and Michelet reached the agreement but offered no further detail. Michelet became CEO in March 2008.

Marine Harvest has already begun looking for her successor. Thomas Farstad, director of group operations in Canada and Scotland, will serve as acting CEO until a permanent replacement is named. Farstad has been part of Marine Harvest’s management team since the company’s inception in 2007. Previously, Farstad worked for Fjord Seafood, which eventually merged with Marine Harvest.

Marine Harvest praised Michelet for seeing the company through the merger, which also included Pan Fish, and for effectively handling the challenge in Chile with infectious salmon anemia.

“I would like to thank Åse Aulie Michelet for her important contribution to Marine Harvest over these two years,” said Marine Harvest Chairman Ole-Eirik Lerøy. “She leaves a company that is highly profitable and in a significantly stronger financial position than it was when she took over two years ago. Marine Harvest is the market leader in a growth industry and has a solid basis for strong long-term profitability, the board wishes Åse Aulie Michelet all the best in her new endeavors.”

Last month, Marine Harvest posted a fourth-quarter net gain of NOK 520.1 million (USD 88.4 million, EUR 64.1 million), compared to a net loss of NOK 621.1 million during the same period in 2008.

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