Steven Raffery, current CFO of Cermaq ASA, on Wednesday was appointed COO of the Oslo, Norway-based company’s global farming division, Mainstream.
Cermaq previously structured its farming operations into two divisions, Mainstream Europe and Americas, under separate COOs. Now global farming operations will operate under a single COO in an effort to increase best practice exchange and produce synergies between the divisions.
Rafferty will combine his role as CFO jointly with his new position until a replacement CFO is named. Until then, Tarald Sivertsen will continue his role as Mainstream Europe COO.
Cermaq unveiled in early June that Francisco Ariztia is retiring as the COO of Mainstream Americas, effective 30 June. He remains with the company as an advisor.
Founded in 1995, Cermaq is one of the world’s largest farmed salmon producers, with operations in Norway, Scotland, Canada and Chile. The company posted operating revenues of NOK 9.8 billion (USD 1.5 billion, EUR 1.1 billion) and a pre-tax loss of NOK 31.1 million (USD 4.9 million, EUR 3.5 million) in fiscal 2008.
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