Rune Eriksen is the new CEO of Statt Torsk, following its merger with Vesterålen Havbruk.
Photo: Vesterålen Havbruk.
Norwegian cod farmer Statt Torsk has a new line-up at the top of the company, with the news that industry stalwart Rune Eriksen has been appointed as the new CEO, with Martin Kværnstuen as the new CFO.
The appointments come as former Statt Torsk CEO Gustave Brun-Lie and former CFO Bjug Borgund requested to step down after the company's recent merger with Vesterålen Havbruk, and the delisting of Statt Torsk from the Oslo Stock Exchange.
A well-known figure in Norway's fish farming sector, Eriksen was previously COO at Vesterålen Havbruk, which acquired Statt Torsk in November.
Eriksen has long professional experience in the Norwegian aquaculture industry, encompassing both salmon and cod farming. He began his career in operations at Salmar "where he swiftly ascended the ranks from working on the pins to assuming the role of General Manager," according to a LinkedIn post by Vesterålen Havbruk.
The post describes Eriksen as "a well-respected figure, known for fostering a culture of continuous learning," who "played a pivotal role in pioneering farmed cod initiatives in Norway".
Eriksen previously held the positions of CEO and COO in Norcod, as well as being actively involved in forming Torskenettverket, Norway's national cod farmers' network.
Gustave Brun-Lie, former CEO of Statt Torsk, and Brynjar Kvaernstuen, CEO of Vesterålen Havbruk.
In November 2023, Statt Torsk confirmed its merger with Vesterålen Havbruk after a difficult preceding year for Statt Torsk, which had made an operating loss of NOK 79.5 million (EUR 6.7 million / USD 7.1 million) during the first 9 months of 2023.
Later the same month, the newly-merged whitefish company announced a private placement of new shares to raise gross proceeds of between NOK 50 million (EUR 4.28 million / USD 4.66 million) and NOK 100 million (EUR 8.56 million / USD 9.33 million).
At the time, the company said the funds would be used to finance production of juveniles and on-growth at its farming sites in 2024, as well as to complete the restructuring of Statt Torsk, and to strengthen the working capital of Vesterålen Havbruk and subsidiaries.