SalMar CFO resigns after just six months on the job

SalMar has confirmed that its chief financial officer, Gunnar Nielsen, has notified the company that he has resigned from his position. Nielsen has only been with SalMar since April 2022.

In a statement, SalMar said that it “has with regret accepted Nielsen’s decision” and will promptly start the process of recruiting his replacement.

Nielsen held the position of CFO at Faroe Islands-headquartered Bakkafrost between 2014 and 2019. SalMar's previous CFO, Trine Sæther Romuld, transfered in February 2022 to become CFO of SalMar Aker Ocean, which is engaged in aquaculture operations in exposed areas and offshore. Nielsen will stay with the company until the end of 2022.

"SalMar wishes to thank Nielsen for his efforts and valuable contributions as part of the top management during the period he has been in the company," SalMar CEO Linda Litlekalsøy Aase said.

Frøya Municipality, Norway-headquartered SalMar has salmon-farming operations in central Norway, northern Norway, and Iceland, as well as harvesting and secondary processing operations in Norway, at InnovaMar in Frøya, InnovaNor in Senja, and Vikenco in Aukra. In addition, the company is operating within offshore aquaculture through the company SalMar Aker Ocean. SalMar also owns 50 percent of the shares in Scottish Sea Farms. Its 2022 expected harvest volume for Norway is 175,000 MT, for Iceland 16,000 MT, and for Scotland 46,000 MT.

Separately, the company issued a harsh rebuke of a proposed tax increase aquaculture operations that will bring its effective tax rate to 62 percent. The government’s proposal must still be approved by the Norwegian Parliament before it is enacted.

Photo courtesy of SalMar