Ode appoints Kenneth Schaug-Pettersen as new CFO

With no previous experience in the seafood industry, his desire to work in it grew when he saw the enormous potential of farmed cod.
Kenneth Schaug-Pettersen, Ode CFO.

Kenneth Schaug-Pettersen has been Ode's new CFO since April.

Photo: Ode.

Ode has a new Chief Financial Officer. The cod farmer has announced the appointment of Kenneth Schaug-Pettersen as the company's CFO. In his new position - which has just been announced but which he has held since April -, he is responsible for all of the company's finances, from the hatchery, processing plant, and marine facilities to the headquarters.

A native - and resident - of Ålesund, Møre og Romsdal, Norway, where Ode is headquartered, although, as mentioned, he has no previous experience in the seafood industry, Kenneth Schaug-Pettersen does have extensive training and experience in the financial sector.

With a master's degree from NHH Norwegian School of Economics and a bachelor's degree from BI Norwegian Business School, in 2023, he also completed 'Emerging CFO', an executive program at Stanford, California. Before starting at Ode, he had most recently been Finance Director at Stokke, where he worked for over eight years and held various roles. Previously, he spent several years as a Senior Auditor at KPMG.

Regarding his interest in working in this industry, Kenneth Schaug-Pettersen said it stems from the enormous potential of farmed cod and the megatrends supporting its future. "Farming cod has the potential to replicate the success story of farmed salmon based on the need for more, healthier, and better protein produced in a sustainable manner!" he stated.

"Additionally, I have great faith in the business model that Ode has developed, as well as the people working here. Working in such an important and relevant industry in my hometown of Ålesund, and contributing to the development of coastal businesses, gives added motivation and purpose," continued the new CFO of Ode.

From the company, Ola Kvalheim, CEO of Ode, has welcomed its new CFO. "We are delighted to welcome Kenneth to the Ode team," he said. "His extensive experience and expertise will undoubtedly make him a key figure in the future success of our business."

"Kenneth shares and reinforces the values of Ode and he is both a nice person and an excellent CFO, so we are looking forward for him to fully integrate and leave his mark on the growth and success of our organization," Kvalheim added.

The company's growth plan has been supported in recent months with the award of a new site that added significant volume and flexibility to Ode's production capacity. Following the approval of this site, the cod farmer now has six marine farms and an annual production capacity of more than 25,000 tons.

In addition, in February, Ode took the final step towards a fully integrated value chain for cod farming after acquiring the Vartdal processing plant, previously owned by Måsøval.

About Ode

Headquartered in Ålesund, Møre og Romsdal, Norway, Ode is a fully integrated seafood company offering its customers premium quality, sustainable farmed cod. It has marine facilities in Nordfjord, Volda, Vestnes, and Aure, in addition to Lumarine's rearing facility at Tjeldbergodden, and the processing plant in Vartdal. The company currently employs almost 150 people.

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