Royal Greenland begins CEO search after Mikael Thinghuus announces departure

Royal Greenland CEO Mikael Thinghuus will step down this summer, bringing an end to his 11 years in the role.

In a statement, Royal Greenland asserts that when Thinghuus took up the position at the end of 2010, the company was in “a deep crisis both financially and strategically,” but that since then, it has undergone a transformation, with its large deficits turning into solid profits.

More than half of the activities Royal Greenland operated in 2011 have been divested, the proceeds of which have been used to repay the DKK 500 million (USD 76.3 million, EUR 67.2 million) the company received from its owner, the Greenlandic government, during the 2010 crisis. It has also invested in new operations in Newfoundland and Labrador, Nova Scotia, Chile and Norway.

Thinghuus, who turns 60 in June 2022, said that his time leading Royal Greenland has been one of the highlights of his life.

"I have to a very high degree enjoyed working in the service of a greater cause; because producing healthy food of the highest quality is so meaningful; because Royal Greenland is so vital to the Greenlandic society and self-government, and because Royal Greenland, both in and outside Greenland, is a leading company in our industry in terms of both biological and social sustainability,” he said. “I am proud of the work we have done and of what we have created. Today, Royal Greenland is a very robust company that knows where it is going – so I am very confident about the company's future."

Company Chairman Niels de Coninck-Smith said Thinghuus’ appointment almost 12 years ago had been a success for Royal Greenland, and that he will be missed.

"We have now launched a broad and professional search for a successor. It will probably take some time, but the agreement we have reached with Mikael Thinghuus gives us good flexibility in terms of executing this search, as he will assist Royal Greenland for a relatively long period," he said.

According to the statement, Royal Greenland “stands incredibly strong” at the start of 2022 despite COVID-19 and a recent cyberattack, and also that performance-wise, 2021 will be the company's best year ever “by a wide margin.”

Photo courtesy of Royal Greenland