Salmones Camanchaca CEO Jorge Fernández García will step down from his leadership role with the company in order to replace his father and company founder Jorge Fernández Valdes as president of the board of directors.
In a note filed with SVS, the Chilean salmon farming sector’s security regulator, Salmones Camanchaca confirmed the decision, which has been accepted by the company’s board. Fernández Valdes has been at the helm of the company for the last 40 years.
In its statement, the firm said that “it is time for the company to project towards a new path to the future.”
Replacing Fernández García is Manuel Arriagada Ossa, who has worked previously as the general manager of fishing firms Pacific Star and Fiordo Austral. He also served as the manager of Camanchaca’s productive operations in Puerto Montt, Chile, and participated in the recent process of listing Camanchaca on the Oslo Boors stock exchange.
The company’s listing has set off a focus on new investment and growth. A report in Chilean daily El Mercurio said that Camanchaca plans to invest USD 14 million (EUR 11.4 million) into its general fishery operations, apart from salmon. For salmon farming, the company is planning a USD 26 million (EUR 21.1 million) investment for 2018.
Around half of the company’s investment is to maintain its current capacity in salmon and other species, while the remainder will focus on energy efficiency in its facilities, sanitary reinforcement, and an expansion and improvement of its cold storage facilities, the report said.
