The board of directors of Iceland Seafood International hf. (“ISI”), a leader in exports of seafood from Iceland, is pleased to announce the appointment of Ægir Páll Friðbertsson as the new CEO of ISI, succeeding Bjarni Ármannsson, who is stepping down after five years with ISI.

Simultaneously, Sjávarsýn ehf., a holding company fully owned by Bjarni Ármannsson has sold its total shareholdings of 10,83% in ISI to Brim hf. as further set out in a separate notification regarding manager’s transaction that has been notified and made public according to Article 19 of regulation No. 596/2014.

The board of directors will summon to a shareholders meeting in the coming weeks.

Ægir Páll has been Chief Operating Officer at Brim hf. for the last 5 years. Before that he was Managing director for Útgerðarfélag Reykjavíkur hf. for 3 years and a managing director for Ísfélag Vestmannaeyja for 9 years. Ægir Páll has worked in the seafood industry for most part of his professional career. He holds a business degree from the University of Iceland and a master degree in finance.

Ægir Páll Friðbertsson, incoming group CEO:

“I’m very pleased to take the helm at Iceland Seafood. I believe the company has a good potential and I look forward to work with its employees, suppliers and customers to further develop the company.

The company has built up a leadership position in Europe and has first-class track record for a very long time for quality, innovation and reliability of its products.

The company is deeply rooted amongst Icelandic producers and I’m confident we can continue to produce value added products in Europe at a premium for the advantage of all stakeholders.”

Bjarni Ármannsson:

“I’m very grateful for the opportunity to lead Iceland Seafood for the last almost 5 years. It’s been a time of learning for me and characterized by volatile externalities that have at times been challenging. I would like to thank the people I’ve worked with and the board of Directors in particular for its continued support.

The Iceland Seafood group is a strong entity with a very good potential for profitability and growth going forward. Its unique position in delivering quality seafood to its customers, particularly in Europe is something that has been developed for a very long time and remains with many good opportunities.

I strongly believe in Ægir Páll Friðbertsson, whom I’ve known for many years.  He will be a good leader for Iceland Seafood. His knowledge, drive and persuasive character will drive the company forward. I wish him and everyone at ISI well and look forward to closely following their continued success.”

Ægir Páll will conclude his current duties at Brim hf. in October and starts as CEO of ISI on November 1^st, replacing Bjarni, who will support the transition for the following months.