Arni Oddur Thordarson brings 25 years of experience leading strategic and organizational transformations.
Photo: Eyrir.
Netherlands-based yellowtail kingfish farmer The Kingfish Company has announced that, following his election at last Friday's Extraordinary General Meeting (EGM), Arni Oddur Thordarson is the newest member of its Supervisory Board.
With 25 years of experience leading strategic and organizational transformations, Thordarson has held leadership roles as chairman of the board, non-executive director and CEO at publicly traded companies, as well as board member at private equity-backed or family-owned private companies.
Within that extensive international industrial and business experience, in the note announcing his appointment, Kingfish highlighted that, for 18 years, the new member of its Board held the positions of Chairman and later CEO of Marel, currently JBT Marel, a world leader in advanced automation solutions for the food and beverage industry.
The yellowtail kingfish farmer also noted that Thordarson is currently Chairman of Eyrir, the international investment company based in Iceland, which, as announced in May, will become the major shareholder of The Kingfish Company.
Specifically, if everything goes as planned, once the strategic financial restructuring currently underway is completed, the Icelandic investor will own a stake representing approximately 31.4% of the total share capital.
Likewise, the company also noted that the new member of its Board maintains strong ties with the Netherlands, where for many years he was a non-executive director of Fokker Technologies and Stork, two iconic Dutch technology companies with a distinguished industrial tradition.
"His proven track record in building and scaling global technology businesses will be highly valuable as we continue to execute our growth strategy. We look forward to working closely with Arni and the other members of the Supervisory Board as we enter the next phase of The Kingfish Company's development," the announcement concluded.
Before this, the last change to its Supervisory Board had occurred in February, when Jordi Trias resigned from his member role to focus more fully on his responsibilities within his own business at sole and turbot farming company Stolt Sea Farm.
Today, The Kingfish Company has also announced that it has entered into the Amended SFA, amending its existing senior facilities agreement with its largest lender. The key terms include, among others an extension of the maturity by 24 months to April 2029; and revised financial covenants adjusted to reflect Kingfish's revised business plan and projected financial performance.
The company also indicated that, following the approval of the corresponding resolutions during the Extraordinary General Meeting on Friday, June 19, 2026, the entry into force of the amended SFA is subject, among other conditions, to the execution of the private placement and the conversion of the CLA, which are expected to be completed during this same month.
The Netherlands-based yellowtail kingfish farmer added that, if successfully completed, the restructuring is expected to strengthen the company's capital structure, reduce its financial leverage and improve its liquidity position.
Last week, the company presented its FY 2025 and Q1 2026 results revealing that although growth was not as expected, last year the company increased its revenue by 29%.
Looking ahead, Kingfish stated that its strategic focus remains unchanged: ramping up towards full capacity utilization while progressing towards positive EBITDA and positive operating cash flow.
