Moen Marin taps internal candidate for CEO role amid strong growth.
Moen Marin, the Norwegian builder of workboats and service vessels for the aquaculture industry, has appointed Lars Ivar Elvetrø as its new chief executive.
Elvetrø, 34, has been with the company for six years, the past four as sales and marketing director. He succeeds Audun Sivertsen Fjeldvær, who remains CEO of parent company ScaleAQ Group.
“I am proud and humbled by the trust placed in me and look forward to further developing Moen Marin together with our talented team,” said Elvetrø in a statement. “We have a solid foundation and will continue to deliver innovative and sustainable solutions to aquaculture nationally and internationally.”
Moen Marin is based in Trondheim and Rørvik and is a key subsidiary of the ScaleAQ Group. The company reported strong performance in 2024, with revenues rising by NOK 344 million to NOK 986 million.
“Lars Ivar knows both the market and the organisation well, and has demonstrated strong understanding of customer needs and technological development,” said Fjeldvær. “He enters the role with solid professional weight and execution ability.”
The company also announced a refreshed executive team. In addition to Elvetrø, the new leadership group includes CFO Ivar Ustad, technical director Tor Erik Aarlot, and COO Kai Karstensen. The company plans to recruit a new marketing director to replace Elvetrø in his previous role.
Director of business development Mariell Ulla Toven will take on a new position within the parent company.