"I am proud and excited about the new challenges," said Madsen, commenting on his promotion within the company.
Photo: Fishglobe Technologies.
Norwegian closed containment systems specialist Fishglobe Technologies announced that it has a new CEO as of June 1. Following several years in key roles within the company, such as CCO & CSO or Co Director, Tor Magne Madsen has just been promoted to the position of Chief Executive Officer.
With extensive experience in leadership roles within the oil and gas industry, Madsen was hired as the third employee at Fishglobe in 2020. Following the merger with ICON Systems that created Fishglobe Technologies, he has served as Deputy CEO with responsibility for all international activities.
Now, Tor Magne Madsen takes over from Tor Hellestøl, who had been leading the company since its founding in 2018 and has taken on a new role at Fishglobe Technologies for a transitional period.
"I am proud and excited about the new challenges," Madsen stated, commenting on his appointment. "Having worked closely with Tor for many years, it is sad to say goodbye to someone who means a lot to me. I knew the time would come, and I am motivated to take one of the most exciting aquaculture companies in the world even further," he added.
In the release announcing his appointment, Fishglobe Technologies said that the new CEO is firmly confident that the team working at the company, together with the owners and the Board of Directors, is prepared to achieve ambitious goals in the future.
"This is just the beginning for the company," Tor Magne Madsen concluded, adding that he looks forward to working hard to realize Fishglobe Technologies' values and potential.
His predecessor, Tor Hellestøl also commented on his departure from the position. "It has been an incredible journey since I first met Arne Berge in 2018 and was introduced to the Fishglobe technology," he said. "What started with the two of us has grown into a competent, forward-thinking, and technology-driven team – further strengthened through the merger with ICON Systems."
In recent years, Fishglobe Technologies has established itself as a leading player in the development and delivery of closed-sea aquaculture systems based on proprietary and patented technology, partnering with well-known companies such as, for example, Nova Sea.
The most recent project we have learned about is the construction of three fish farming units in Frierfjorden Fjord, in Norway. Its completion, scheduled for spring 2026, will mark the commissioning of the largest closed fish farming unit and the largest thermoplastic structure in the world.
So, with progress both domestically and internationally in 2024, a strong order book and a new strategy in place, outgoing CEO Tor Hellestøl believes this is the right time for a change in leadership.
The Chairman of the Board and majority owner took the opportunity to thank him for his efforts. "As the majority owner in Fishglobe Technologies, Valinor would like to thank Tor Hellestøl for his dedicated effort and significant contributions to the company's development over seven years," said Petter Aanonsen, Investment Director at Valinor.
"We are proud of what has been achieved under his leadership," Aanonsen continued. "At the same time, we look forward to continuing to build Fishglobe Technologies into a globally leading company together with the new CEO, Tor Magne Madsen, and the strong team at Fishglobe Technologies," he concluded.
