Thorsteinn Már Baldvinsson, has been CEO of Samherji since the company was founded in 1983.
Photo: Thórhallur Jónsson for Samherji.
Thorsteinn Már Baldvinsson, the CEO and co-founder of Icelandic seafood company Samherji, has announced his decision to step down from his role in June 2025 after 42 years at the helm.
Baldvinsson informed employees of his departure in a letter which was also published on the company website, describing his experience leading Samherji since its modern inception in 1983 and overseeing its development into one of Iceland’s largest vertically integrated seafood firms, comprising fishing, processing, sales, and land-based aquaculture.
The Samherji board has appointed Baldvinsson's son, Baldvin Thorsteinsson, a major shareholder and current Chairman of the Board, as the new CEO, Baldvinsson confirmed.
In his farewell message, the outgoing CEO reflected on the Akureyri-headquartered company’s evolution from a single trawler operation to a large-scale enterprise employing over 800 people.
"Fisheries have been my passion, purpose and life's work. I received my first paycheck at the age of 12 at Útgerdarfélag Akureyringa (ÚA), which celebrates its 80th anniversary next week. The fishing and processing industry in Iceland has undergone significant changes in recent decades, not least due to rapid technological advancement. I have been fortunate to experience them and contribute as a direct participant," Baldvinsson said.
While stepping down from day-to-day leadership, Baldvinsson said he intended to remain active in the industry through board roles at Samherji Fish Farming and Síldarvinnslan hf.
In April, Samherji announced that its subsidiary Samherji Fish Farming had completed financing for Phase 1 of its "Salmon Garden", a new land-based aquaculture facility located on the Reykjanes Peninsula, which will include a freshwater RAS hatchery, a grow-out facility, and a harvesting facility.
