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SalMar CEO to Step Down

Economics +1 more

NORWAY - SalMar's CEO Yngve Myhre has notified the board of directors of his decision to resign from the company with effect from 30 June 2014. The board will immediately start looking for his replacement.

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"The board of directors wishes to thank Yngve Myhre for the contribution he has made during a period in which the company has undergone considerable growth and development. Under Mr Myhre's leadership, SalMar has continued to advance and expand its operations. His replacement as CEO will therefore take over an extremely robust company," said Bjørn Flatgård, SalMar's Board Chair.

Yngve Myhre became CEO in June 2011, since when the company has grown both organically and through a series of strategic acquisitions. After a hectic period, however, Mr Myhre has decided it is time to step down. He wishes to thank the company's shareholders, board of directors and colleagues for their cooperation and support during his tenure as CEO.

"The period since I came to SalMar in 2011 has been exciting, instructive and challenging. But after several years of commuting to Frøya, and with almost 200 travel days a year, it is now time to give priority to my family. SalMar is one of the most exciting seafood enterprises in Norway, and thanks to the efforts of its highly competent workforce, the company has a solid foundation on which to continue building," said Mr Myhre.

In accordance with his employment contract, Mr Myhre will remain at the disposal of the company throughout his period of notice, and will receive six months' severance pay.

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