Måsøval may be put up for sale, as Måsøval family investment firm undertakes strategic review of its 70% stake in the aquaculture company.
Photo: Måsøval
Norwegian salmon farming company Måsøval has announced that Helge Kvalvik is resigning as CEO.
The decision was announced at the same time as the company confirmed its majority owner Heimstø AS, an investment company owned by the Måsøval family, is undertaking a strategic review of its ownership. The company currently owns 70% of Måsøval.
Kvalvik, who has a background in engineering and finance, joined Masoval as CEO in 2023, following 11 years as chief executive of Norwegian maritime services group Boa Offshore. He will remain in position until the end of June 2026 to ensure a smooth transition, the company said.
"I have had three very rewarding and exciting years at Måsøval, but I now feel it is the right time for me to seek new challenges. I would like to express my gratitude to the Board and not least all the employees at Måsøval, and wish them all the best going forward," Kvalvik said in a stock exchange announcement.
"The Board of Directors greatly appreciates Helge Kvalvik's efforts and
valuable contributions to the development of Måsøval during his tenure as CEO, and wishes him all the best going forward," said Chairman of the Board Lars Måsøval, who also indicated he will be available to step in as interim CEO until a new leader is in place. Lars Måsøval is also the CEO of Heimstø AS.
In its latest report, Måsøval documented "record" harvest volumes for 2025, despite what outgoing CEO Kvalvik described as a "demanding" year due to high sea temperatures and "heavy lice pressure."
The company said that its increased capacity in treatment and harvesting facilities helped it navigate these challenges, claiming that its investments during the previous year "strengthened our operational resilience and position for continued growth."
Måsøval said it has engaged DNB Carnegie, part of DNB Bank ASA, as financial adviser to assist in the strategic review, and stated that this "does
not entail a decision to carry out a transaction, but rather that a process
has been initiated to explore various alternatives related to the ownership." If the review does lead to a transaction, however, Heimstø said it intends to enable the other shareholders to sell their shares on equal terms.