"I look forward to taking on the role of Production Director, optimizing and structuring the company's production, and contributing to Norcod's growth ambitions," Lervåg stated.
Photo: Norcod.
Norwegian cod farmer Norcod announced the appointment of Arve Olav Lervåg as its new Production Director. Effective December 1, 2024, he will take over from Tsjipke Deuzeman, who, the company said in its release, will join freshwater aquaculture company Svåholmen as CEO at the start of the new year.
After boosting revenue by 121% in Q2 2024, Norcod said replicating the salmon story was its "game plan" and, referred to this as "Salmonification" in the results report. Seen now in perspective, this appointment could be a first step in that direction, since, with no previous experience in cod farming, Norcod's new recruit does, however, have extensive experience in salmon farming.
Holding a degree from Molde University College, where he studied aquaculture and economics, Arve Olav Lervåg has worked in aquaculture for 27 years, most recently as Executive Director of Aquaculture at Norway Royal Salmon (NRS). Previously, he spent 10 years at Lerøy, where he held positions as Production Coordinator and Production Manager.
It was precisely his wealth of experience that Christian Riber, CEO of Norcod, highlighted in commenting on the appointment of Arve Olav Lervåg. "We are delighted to have secured the services of such an experienced aquaculture professional," he said.
"Lervåg brings with him extensive and valuable expertise from salmon farming, and I am confident that his experience in commercial operations, along with his leadership qualities, will be a great asset to Norcod," he continued.
When Norcod presented its Q3 2024 report two weeks ago, despite the poor results recorded - it had a net loss of NOK 82.05 million (EUR 7 million / USD 7.4 million) due to high mortality - the company said that market conditions and fundamentals for farmed cod "have never been better," and its new Production Director seems keen to take advantage of this.
"As the pioneer and market leader, Norcod is well positioned to capitalize on the strong market conditions for farmed cod. I look forward to taking on the role of Production Director, optimizing and structuring the company's production, and contributing to Norcod's growth ambitions," Lervåg stated.
As mentioned above, Arve Olav Lervåg's appointment will be effective December 1, 2024. On the same day, the new Chief Financial Officer, Stian Vollan-Hansen, whose appointment we learned about last September, will also take up his position.