Andres Kvame announced that he will step down as CEO of Bergen, Norwegian salmon farmer Grieg. The company’s share price had risen 10 percent on the Norwegian Stock Exchange as of 31 March, apparently in response to the leadership change.
Nina Willumsen Grieg, daughter of the company’s largest shareholder Per Grieg Jr., and current regional director of Grieg Seafood Rogaland, has been named interim CEO. In a press release sharing the news, the company said that it has undertaken the search for a new CEO.
Per Grieg announced that he will step down from the role of board Chairman and take a regular position on the board, while current board Vice Chair Paal Espen Johnsen will take on the Chairman role.
Grieg announced in February that it was scaling back its North American operations in Canada.
“We have launched a transformation program to lay the financial and organizational foundation for profitable and sustainable growth going forward," Kvame said at the time. "This includes reallocating resources toward our strong Norwegian assets base while maintaining our position in Canada, making efforts to secure financial strength, and sharpening the operational initiatives we are running.”
In its announcement about Kvame’s departure the company said that “this program will be executed as planned.”
Kvame thanked his colleagues and said that it had been a “true privilege to lead Grieg Seafood for more than 10 years.”
“A main priority has been the development of post-smolt production, which I strongly believe will play an important part in the future of the entire salmon farming industry," Kvame said of his time as CEO. "Currently it is a challenging time for Grieg Seafood. As a result of the financial transformation program initiated, the Company has been stabilized financially and is positioned to take the measures needed for operational improvements. I wish my successor the best of luck and believe Grieg Seafood has a bright future ahead.”
Espen Johnson, new Chair of the Board, thanked Kvame, saying that he had “set the agenda for and executed the [company’s] successful post-smolt strategy.” He also said that Kvame had “played an instrumental role in developing Grieg Seafood into an international fish farming company with integrated operations.”
He added, “the strategic direction for the company remains firm. The work is ongoing, and I am confident that the measures will yield results.”
