Royal Greenland's headquarters in Nuuk, the capital of Greenland.
Photo: Royal Greenland.
Royal Greenland announced that, at the turn of the year, it will be welcoming a new CFO as Nils Duus Kinnerup has decided to step down from his position as Chief Financial Officer "after 17 years of dedicated service."
The Greenland-based company highlighted that, during his time at Royal Greenland, the outgoing CFO has been a key figure in its financial management and development, guiding the company to a long period of profitability after facing difficult times.
In May, the seafood giant mounted a "turnaround project" to slash costs after its pre-tax loss of DKK 255 million (USD 36.8 million / EUR 34.2 million) in 2023, one of the most challenging in its long history, according to Royal Greenland Chair, Maliina Abelsen. The move seems to be working considering that in September it opened a new service center in Poland as part of its strategy to improve operational efficiency and customer service.
"We recognize and greatly appreciate Nils' significant contributions to driving financial growth and profitability, as well as his deep commitment and leadership throughout the organization," said CEO Susanne Arfelt Rajamand commenting on the resignation.
Nils Duus Kinnerup himself expressed pride in the corporate culture he has helped to forge on a global scale during his tenure with the company. "It has been a fantastic journey since I joined Royal Greenland in 2008," he said. "Being part of the company's development and steering it towards becoming a commercial success that continues to grow while fulfilling its responsibility to the Greenlandic community has been both a pleasure and a rewarding experience."
"I am proud of the culture we have built within the organization, which spans from east to west, from Greenland to Japan, the USA, and Canada, and embraces many different cultural backgrounds," the outgoing CFO concluded.
Following his resignation, effective January 1st, 2025, he will remain affiliated with the company as an advisor for some time, working closely with the management team to ensure stability and a smooth transition.
Nils Duus Kinnerup's decision to resign, the company said, is in line with Royal Greenland's objective to consolidate more members of its management team in Greenland, "a move that unfortunately has not been compatible with Nils' personal circumstances."
Royal Greenland is currently in the process of recruiting a new Chief Financial Officer and expects to announce more details soon. In its release, it noted that the new CFO will be based at the company's headquarters in Nuuk.
Although it has sales offices in many parts of the world, the core of the company's identity is firmly rooted in Greenland as it is entirely owned by the Greenlandic government, with its fishing fleet and most of its factories located in the country, producing wild-caught seafood including coldwater prawns, Greenland halibut, snow crab, and cod.
