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The company has also lowered its annual harvest forecasts due to a biological issue that causes fish to fail to adapt to seawater.

The company though achieved a mortality reduction during the summer and anticipates with excitement the beginning of its Blue Endeavor project.

According to the company, Blue Endeavour could generate NZD 300 million in new revenue per annum.

Blue Endeavour could be the first open-ocean salmon farm in New Zealand.

Former acting CEO Graeme Tregidga takes on the role of COO for New Zealand King Salmon on October 23.

The Board of Directors of New Zealand King Salmon announced a few hours ago that it will have a new CEO: Carl Carrington. His position will take effect on August 7.