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Cermaq Chief Steps Down

NORWAY - The CEO of Cermaq ASA, Mr Geir Isaksen, has announced he is stepping down from his role after accepting the position as CEO of NSB Group, Norways largest transport group.

The Board of Cermaq will immediately initiate the recruitment of a new CEO, Geir Isaksen will continue as CEO of Cermaq until 30 September 2011.

Mr Geir Isaksen has been CEO of Cermaq ASA (previously named Statkorn Holding AS) since 1996.

Chair of the Board, Bård Mikkelsen stated: “The Board regrets the resignation of Mr Gir Isaksen, but understands his decision and expresses its gratitude to Mr Isaksen for his determined and dedicated efforts as CEO over a period of 15 years.”

“Mr Isaksen has been responsible for the restructuring of the company’s operations from grain trading to aquaculture, and the strategic development of Cermaq into a leading global company within farming of salmon and trout and production of fish feed.”

“Under his leadership, Cermaq has grown to a throughout solid company, with a strong financial position, good performance and operations in all regions, and a competent organisation,” Mr Mikkelsen concluded.

Commenting on his move, Mr Isaksen stated: “It has been a privilege to take part in building Cermaq to a leading global player in the aquaculture industry.”

“I choose to leave Cermaq at a point in time when the operations and the organisation are sound at all levels, and the results are good.”

“It is now time to pass on the responsibility to other good forces that can further build the company. Thus, I am excited to take on new challenges in the NSB Group,” Mr Isaksen concluded.

the Fish Site Editor

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