First, the CEO quit. Now, the CFO is also leaving to join SalMar’s open ocean subsidiary

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Trine Sæther Romuld resigns as second-in-command at SalMar.

“To strengthen the team at SalMar Ocean, Group CFO & COO Trine Sæther
Romuld, in consultation with SalMar’s CEO and board of directors, has announced her decision to accept the role of CFO & Director of Strategy at SalMar Ocean,” SalMar wrote in a stock exchange announcement.

Sæther Romuld is following in the same steps as the ex-CEO of SalMar Olav-Andreas Ervik, by quitting her job to start in a similar position in the subsidiary SalMar Ocean.

The recruitment process for a new group CFO is already underway and the plan is for her to take up her new post on 1 September 2021.

“SalMar’s focus on the open ocean marked the start of a new era in the seafood industry. Offshore fish farming opens vast new areas for sustainable food production and helps to secure the world’s food supply in a long-term perspective. By strengthening the team in SalMar Ocean with the appointment of Trine Sæther Romuld, we are further reinforcing this important strategic effort for SalMar,” said CEO Gustav Witzøe.

“I am looking forward to, together with the rest of the team in SalMar Ocean, to further develop what is the start of a new industrial adventure for the seafood and the supply industry,” said CFO and COO Trine Sæther Romuld.

SalMar’s focus on offshore fish farming is well known and continues its
tradition of developing and exploiting new technologies and new solutions. This endeavour is taking place under SalMar’s wholly-owned subsidiary SalMar Ocean, which is led by its CEO Olav Andreas Ervik.

Ocean Farm 1, a full-scale pilot with offshore design, was put into operation in the autumn of 2017. The unit has been in an exposed area of the ocean off the coast of Frøya in Central Norway. Two whole production cycles have been carried out and a combined total of 10,000 tonnes of superior quality salmon have already been delivered to the market.

“We have been able to observe strong biological results, with strong growth, low mortality, low sea lice levels and production costs on par with the best coastal locations,” said SalMar Ocean CEO Olav-Andreas Ervik.

SalMars’ “Smart Fish farm”. Illustration: Mariculture

Open Ocean
The next technological leap for SalMar’s offshore development is Smart Fish Farm, which is planned to be established in the open ocean outside of Central Norway. SalMar has ambitions to build a series of these units for offshore production, based on the experience gained, provided that the authorities open up for locations and licenses in these areas.

“In the open ocean, the Gulf Stream supplies a continuous flow of high-quality water at the right temperature. We have no need to add further energy or freshwater. And the Gulf Stream gets its power from the sun, wind and other deep ocean currents,” Ervik explained.

He adds that with the technology and solutions that SalMar Ocean now makes available, the challenge posed by the Norwegian authorities to develop equipment suitable for solving important area and environmental challenges that the industry faces are taken seriously. Nothing is then more natural than using even more of the Norwegian coast and the areas on the Norwegian Continental shelf, in the salmon’s natural habitat.

Potential for significant ripple effects to the Norwegian supply industry.

SalMar has conducted studies that offshore aquaculture will have significant ripple effects in the form of value creation and jobs, on land as well.

Fomer CEO Olav-Andreas Ervik is running subsidiary SalMar Ocean. PHOTO: Andreas Witzøe

“We are ready to place major orders for sea cages and equipment when the necessary permits have been granted by the authorities,” said Ervik.

SalMar’s focus on offshore fish farming will form the basis for a new era in
aquaculture with significant effects also for the supplier industry. By being at the forefront with solutions and experience, suppliers can secure a competitive edge in a new and potentially vast national and international market.

The technology and solutions currently being developed are not restricted to Norwegian waters. It is not only off the Norwegian coast that nature offers good conditions for the sustainable production of North Atlantic salmon.


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