Change of CEO at Norway Royal Salmon

Published on
April 25, 2022
Norway Royal Salmon CEO Charles Høstlund

Norway Royal Salmon ASA (NRS) has confirmed that the appointment of interim CEO Klaus Hatlebrekke has expired, with the move effective Monday 25 April, 2022.

In a filing made on the Oslo Stock Exchange on 25 April, NRS said Hatlebrekke has returned to his previous position as COO of business development at NRS. Charles Høstlund, who was CEO of NRS from 2014 until resigning in September 2021, has been appointed new interim CEO with immediate effect.

“I have accepted to lead NRS in an interim period, and it is exciting to be back with the company. I am looking forward to seeing many familiar faces the coming weeks,” Høstlund said. “It is natural to make a change now in this phase for the company. Charles and I have worked together for many years, and I look forward to continuing the collaboration.”

On 20 April, NRS’s attempt to achieve shareholder approval a NOK 1.9 billion (USD 210.1 million, EUR 195.6 million) private placement was defeated by NTS, its majority owner. NTS fought the proposal because it would have allowed NRS to acquire SalmoNor – a move that NTS had previously supported, but which its now opposes after SalMar conditioned its own purchase of NTS on NRS not acquiring SalmoNor.

NRS owns 36,085 metric tons (MT) maximum allowed biomass (MAB) for salmon farming in Troms and Finnmark, Norway, and 21,800 MT MAB for salmon farming and 5,300 MT MAB for trout farming in Iceland through the company Arctic Fish. In addition, it has minority interests in two associated Norwegian fish farming companies which together own nine fish farming licenses.

Photo courtesy of NRS

Contributing Editor reporting from London, UK

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