Arctic Fish chief to step down

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.

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.