Arctic Fish chief to step down

Stein Ove Tveiten, is to step down as CEO of Mowi owned Arctic Fish in Iceland, it was announced today.

He is thought to have told the board of his decision earlier this week.

Tveiten said: “Serving as CEO of Arctic Fish has been an incredible journey. Over the past seven years, I’ve had the privilege of working with a fantastic team and witnessing rapid and substantial growth for both the company and the industry as a whole.

“It has been an honour to serve in this role, and I believe Arctic Fish and Iceland are uniquely positioned for continued growth and sustainable development,” he added.

Stein Ove Tveiten, CEO Arctic Fish

Arctic Fish board chairman Øyvind Oaland, said: “Stein Ove has dedicated a lot of efforts and time into Arctic Fish and is handing over a company with solid volume development and great future growth projections.

“We are highly appreciative of his contribution.” The board of directors will commence the recruitment process for a new CEO.”

Tveiten will continue to serve as CEO until a successor is appointed to ensure a smooth transition.

Arctic Fish (aka as AFISH) is one of Iceland’s leading salmon farmers with a production capacity of 29,800 tonnes. It has licences covering 11 farming areas in six different fjords, all located in the Westfjords region of Iceland

The company’s value chain consists of a state-of-the-art RAS hatchery and smolt production facility, attractive sea sites with high bearing capacity and high-energy equipment, and a newly completed harvesting facility.

The Mowi Q3 report last month showed that Arctic Fish had an operational EBIT or profit of €1.3m (just over £1m) between July and September on a harvest of 3,400 tonnes.