Cermaq CEO Geir Molvik stepping down

Published on
October 1, 2021
Cermaq CEO Geir Molvik is stepping down.

Oslo, Norway-headquartered salmon producer Cermaq has announced its CEO, Geir Molvik, is stepping down.

The 1 October announcement said the new CEO will be Steven Rafferty, who is currently the managing director of Cermaq Chile. Molvik will continue leading the company until Rafferty takes over in March 2022.

Molvik has worked in the aquaculture sector for more than 40 years, and has been with Cermaq for the past 15. He has been the company’s CEO since 2016, and prior to that served as the managing director of Cermaq Norway.

According to a release from Cermaq – which is owned by the Japanese conglomerate Mitsubishi – he will continue to be available to the company in an advisory role.

“I have been privileged to work with aquaculture in all parts of the world since the 1980s and have been involved in a lot of exciting activities,” Molvik said. “Now a chapter has come to an end, and I want to prioritize my time differently going forward. Hence, I asked the board to find a replacement earlier this year.”

Molvik has presided over Cermaq as the company continues to commit to environmental goals. Most recently, the company committed to cut its greenhouse gas emissions by 35 percent by 2030, with Molvik saying the company plans to continue contributing to mitigating its contributions to climate change.

During his tenure, Cermaq also launched its groundbreaking “iFarm” project, a new state-of-the-art approach to commercial salmon farming that relies heavily on technology.

The company also recently received an award for its work on fish welfare, and announced a partnership with a kelp producer to create an integrated salmon and kelp farm.

“Geir has done a great job in developing aquaculture in Norway and internationally. For the past 15 years at Cermaq, he has consolidated Cermaq's position as a premium salmon supplier in Chile, Canada, and Norway,” Cermaq Group Board Chair Yasuhiro Kawakami said. “We are very pleased with the job he has done and wish to thank him for the development of Cermaq and the solid results during his period.”

Rafferty has worked at a number of international aquaculture companies in the last 20 years, including as serving as the chief financial officer and chief operating officer in the Cermaq Group. According to the company he will continue to serve in his role as managing director of Cermaq Chile until his transfer to Norway, and a replacement for his role in Chile will be announced “in due course.”

“Until March 2022, I will finish the fantastic team effort in Cermaq Chile which has set the company on strong footing, thanks to solid efforts from our employees on many levels,” rafferty said.  “I am very much looking forward to head Cermaq after Geir, who has given me a lot of support during the last years.”  

Photo courtesy of Cermaq

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