Iceland Seafood International hf (ISI) will elect three new board members on Tuesday, 5 February after Benedikt Sveinsson and Mark Holyoake decided not to seek reelection.
A third open spot was created when board chairman Bjarni Ármannsson stepped down in January to become the company’s CEO.
Reykjavik, Iceland-based ISI operates nine fish processing plants and is one of the largest exporters of seafood from Iceland, serving mainly the Spanish and British markets.
The three new candidates running unopposed for three open board spots are:
- Liv Bergþórsdóttir, the chairman of Wow Air and the Aur app. Bergþórsdóttir has more than 20 years of experience in the telecom industry, having previously served as the CEO of Nova hf for 12 years.
- Magnús Bjarnason, a former CEO of the Icelandic Group and currently mergers and acquisitions advisor and managing partner of MAR Advisors.
- Jakob Valgeir Flosason, CEO of Jakob Valgeir ehf and a former seafood industry executive.
- Running as an alterate boardmember, Ingunn Agnes Kro, the director of administration and communication at Skeljungur hf.
Sveinnson worked at ISI for more than 40 years in various senior leadership roles in Iceland, the U.K., and the U.S.A. In 2006, he became group CEO of the company and 2010, he became group chairman. That same year, Holyoake purchased ISI through International Seafood Holdings and provided financial backing for the firm during a growth period.
“Iceland Seafood is truly a fine company and in an era of consolidation across the sector, it is perfectly placed with its significant quota access to continue its excellent growth record for many years to come,” Holyoake said. “I have not only enjoyed every moment helping the teams so successfully expand and grow to now reside as one of Europe’s leading seafood companies but to do so with such fantastic people has been a genuine privilege. The group could not be in better hands led by the exceptionally talented and hugely respected Bjarni Armannsson as CEO and a first-class new board comprising of industry and business leaders energized to drive the business forward to new levels. I wish them all every success in the future and I will remain a long term and loyal supporter of the group going forward.”
Bjarni Ármannsson thanked Holyoake and Sveinnson for their service, and said the group anticipates further growth in coming years.
“With the transformational Solo Seafood acquisition completed in September 2018 we have seen further changes in the shareholder base of ISI where the group has developed its supply chain for the benefit of the company and its customers working closely with the largest quota owners of Iceland,” Ármannsson said. “The group has already announced its intention of a main market listing during 2019 and today has significant opportunities and strong demand in our key markets. We therefore look forward to continued strong growth and to building further upon the real successes that have been achieved at ISI over the last years.”
