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With a net loss of NZD 20.8 million, the salmon farming company remains confident about long-term growth opportunities.

The NZ Coalition Government announced the passage of a new bill that protects marine aquaculturists from costly permit reviews.

Akaroa King Salmon CEO Stewart Hawthorn will succeed long-standing Chair and industry pioneer Bruce Hearn, who is retiring.

CFO Ben Rodgers will leave the salmon producer in November, as the company "prepares for transformational growth".

"I want a thriving and sustainable fishing industry that continues to contribute to New Zealand’s export-led recovery," the Oceans and Fisheries Minister said.

The aquaculture feed giants will design a feed specifically tailored to the conditions of New Zealand’s King salmon.