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New CEO For Royal Greenland

DENMARK - Flemming Knudsen, the present chief executive of Royal Greenland, has decided to retire after morethan 40 years in the business community in order to pursue a career in boards of directors. Royal Greenland is proud to announce that Mikael Thinghuus, present CEO of IDdesign, has chosen toaccept the challenge as chief of Royal Greenland.

"Royal Greenland is a unique company with a very large development potential. Especially due to the great significance for the Greenlandic society, the management of the company bears a special responsibility," says Niels de Coninck-Smith, Chairman of the Board.

"By appointing Mr Thinghuus the board has decided that the continuous development of Royal Greenland’s image and relations to the Greenlandic society is an important task. The board of Royal Greenland is of the opinion that Mr Thinghuus is the absolute best candidate for this job.

"We consider it a scoop that we have been able to attract Mr Thinghuus, and we are looking forward to starting the cooperation. Mikael Thinghuus is bringing a line of impressive results with him, and with his wide experience and large scope, Mr Thinghuus will be a great capacity for the company."

Mr Thinghuus said: “Royal Greenland is a very fascinating company. With markets all over the world, own trawlers and production activities in Greenland, Denmark, Germany, Poland and Canada the platform for a strong future is present. I am fascinated by the Greenlandic dimension and I am looking very much forward to getting to know the Greenlandic population (Royal Greenland’s shareholders) better. Of course I am sorry to leave IDdesign, but Royal Greenland was an offer that I could not resist.”

Royal Greenland is the seventh largest fishing and fish processing company in Europe. The company has about 2,000 employees and has a turnover of about 4.5 b. DKK.

Flemming Knudsen has managed Royal Greenland through a difficult period comprising a recapitalisation and reduction of the company scope. The results and cash flow are improving after a difficult 2008/09. Thus the new management can set to work on the many forward looking business opportunities available in the company.

Mr Thinghuus starts his appointment on 1 April 2011 at the latest, but it is expeced to be sooner.

the Fish Site Editor

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