Royal Greenland on Tuesday announced that it is not seeking privatization.
Kuupik Kleist, Greenland’s premier, brushed off speculation of a “quick privatization” of the Danish seafood company, adding that its management team now has the “peace to get the company back on an even keel.” Kleist’s comments came at the company’s 18 February annual meeting.
Royal Greenland struggled financially last year, posting a loss of DKK 196 million (USD 35.7 million, EUR 26.3 million).
“A strategic plan for the future of the company has been compiled, in which an increased focus on trends and demands in the market is a pivotal point,” said Royal Greenland CEO Flemming Knudsen. “With support from the sole shareholder, the necessary peace has been created for strengthening of the business.”
Also on Tuesday, Royal Greenland announced that it elected Niels de Coninck-Smith as chairman. He will succeed Peter Grønvold Samuelsen, who has held the position for the past three years.
Coninck-Smith comes to the company from the consultancy firm McKinsey & Co. He has been on the boards of several companies and was the CEO of Ferroson from 2001 to 2008, where he is still a member of the board.
