Lars Måsøval is also the CEO of Heimstø AS, the Måsøval family's investment company, which is Måsøval AS's majority owner.
Photo: Heimstø.
Norwegian salmon company Måsøval announced yesterday the appointment of Lars Måsøval as its new interim CEO, effective July 1, 2026. The company thus accepted the offer made by the former Chairman of the Board back in March, when it was revealed that the current CEO, Helge Kvalvik, had announced his intention to step down, as the owners were considering selling the company.
At that moment, while thanking Kvalvik for his efforts and contributions during his tenure as CEO—he had been appointed in October 2022—Lars Måsøval also indicated that he would be available to step in as interim CEO until a new leader was in place.
In the notice regarding the appointment sent to the Oslo Stock Exchange, the company noted that Lars Måsøval, who is also the CEO of Heimstø AS—the Måsøval family's investment company, which is Måsøval AS's majority owner—has extensive experience both in the seafood industry and within the company itself, where he previously served as CEO.
"Lars Måsøval knows the organisation, the operations and the industry very well. The Board believes that he will contribute to continuity and stability during the interim period," said Trond Tuvstein, Chair of the Board at Måsøval AS.
As mentioned, he will assume the position on an interim basis following the resignation of the current CEO, Helge Kvalvik, on June 30, 2026, and, according to the release, will hold it until a new permanent CEO is appointed or another permanent management solution is established.
Måsøval's Board added that it has already begun the process of securing such a permanent management solution for the company.
All this is happening while, as mentioned above, the company is undertaking a strategic review of its ownership, for which it engaged DNB Carnegie, part of DNB Bank ASA, as a financial advisor to assist it.
"The strategic review does not constitute a decision to pursue a transaction. Rather, a process has been initiated to evaluate and explore various ownership alternatives," the Norwegian salmon company explained in the Q1 2026 results report it presented in May.
About a month before, we had learned that, among these ownership alternatives, SalMar had begun to play an important role, as during that first quarter, the fellow salmon producer's owner had become the second-largest shareholder of Måsøval.
In the coming months, for what lies ahead, the one in charge will be Lars Måsøval, who five years ago, when Måsøval AS was about to be listed on Euronext Growth, Oslo Stock Exchange, already stated that the family intended to remain "an influential owner going forward."
