Jon Olav Odegard, new CEO of Hofseth Biocare

Jon Olav Odegard, new CEO of Hofseth Biocare

After Roger Hofseth steps down

Roger Hofseth is stepping down from his position as CEO of Hofseth BioCare ASA (HBC). In turn, Jon Olav Odegard replaces him, who is currently the company's chief financial officer. However, Roger will be a director of the Board and still CEO of Hofseth International.

Jon Olav Odegard – LinkedIn profile

To continue exploring the medical and pharmaceutical potential

Thereby, Ødegård will assume the new role on the 1st of August. Previously, he was a managing director in Sparebank 1 Finans. Also, he held executive positions in Banking and Advisory services. Finally, he occupies several board positions within Hofseth BioCare group companies, such as Aqua Bio Technology ASA.

Regarding this new challenge, Ødegård said: "I am very excited to take on the role as CEO of the Company. I look forward to working with the Board and team to continue the progression of developing our quality nutritional lipids, proteins, and calcium from fresh salmon offcuts. As well as the hydrolysis process through further clinical development and ultimately to the patients we believe will benefit from them."

On the other hand, Kristin Fjellby Grung, Chair of Hofseth BioCare, noted: "Jon brings vast experience as a leader in the industry with a proven track record. He is definitively the right person to continue our mission to explore the medical and pharmaceutical potential of our products."

Besides, she confirmed: "The Board is confident that Jon will be the right person to lead and continue to develop Hofseth BioCare into this phase. The recent share capital increase secures the necessary funding for continued development."

Subsequently, the Board has thanked Roger Hofseth for his continued work since 2009. "Roger has played a decisive role in establishing Hofseth BioCare as a supplier of high-value ingredients and finished products for the nutrition market. His strong involvement in Hofseth International has secured exclusive long-term access to fresh salmon off-cuts, providing a competitive edge for HBC." a statement indicates.

To sum up, Hofseth added: "It is a natural time for me to hand over to Jon. He can concentrate fully on HBC's further development. I can then concentrate fully on securing vast amounts of fresh salmon offcuts from our business in Hofseth International. I will, however, keenly join the Board if the General Assembly appoints me."

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