Andreas Kvame, who is stepping down after 10 years as CEO of Grieg Seafood.
Photo: Grieg Seafood.
The CEO of Grieg Seafood, Andreas Kvame, is stepping down after ten years at the helm of the Norwegian seafood giant, the company has announced.
In a stock exchange notification, Grieg Seafood's board of directors confirmed they have begun the search process for a new CEO. In the meantime, Nina Willumsen Grieg, Regional Director of Grieg Seafood Rogaland, has been appointed interim chief executive. Kvame will remain involved in the short term to support a smooth transition.
Grieg, who currently serves as Regional Director of Grieg Seafood Rogaland, brings a decade of experience within the company and has led the Rogaland region to strong financial and biological results over the past four years, the board of directors said.
The leadership change comes as Grieg Seafood advances its "financial transformation" program, which Kvame launched in February following disastrous 2024 results which saw a vertiginous drop in EBIT of almost 99%.
The strategy aims to reshape the company into what it describes as "a focused Norwegian seafood producer", scaling back its ambitions in Canada, and concentrating on core operations in Rogaland and Finnmark.
"By streamlining the Company's portfolio and reinforcing its financial foundation, Grieg Seafood is positioning itself for a return to profitability and long-term sustainable growth in its home market. This program will be executed as planned," the company said in the announcement.
In a related governance shift, Per Grieg Jr., who is the father of interim CEO Nina Willumsen Grieg, has stepped down from his role as Chair of the Board and will continue as a regular board member. Vice-Chair Paal Espen Johnsen has now assumed the role of Chair until the next General Meeting, the company announced.
Johnsen thanked the outgoing CEO for his contributions, highlighting that Kvame had "set the agenda for and executed the successful post-smolt strategy", and adding "He has played an instrumental role in developing Grieg Seafood into an international fish farming company with integrated operations."
"The strategic direction for the company remains firm. The work is ongoing, and I am confident that the measures will yield results. On behalf of the Board, I would like to thank Andreas for his contributions over the years," Johnsen said.
"It has been a true privilege to lead Grieg Seafood for more than 10 years, and I want to thank all of my colleagues for their efforts. A main priority has been the development of post-smolt production, which I strongly believe will play an important part in the future of the entire salmon farming industry," Andreas Kvame said.
"Currently it is a challenging time for Grieg Seafood. As a result of the financial transformation program initiated, the Company has been stabilized financially and is positioned to take the measures needed for operational improvements. I wish my successor the best of luck and believe Grieg Seafood has a bright future ahead," Kvame added.
