New CFO for Norwegian salmon farmer Masoval

Editorial staff

Hagestande replaces Gunnar Aftret, who resigned in May.

Norwegian salmon producer Masoval has appointed Anders Hagestande as its new Chief Financial Officer (CFO), effective from September 18, 2023, the company announced on Thursday.

Before joining Masoval, Hagestande served as the CFO of Blue Resource Group. Prior to that, he was CFO of Norwegian salmon producer Bjoroya.

In addition to these roles, Hagestande has been a board member for both Filetfabrikken and Villa Seafood, acted as a financial controller for Nova Sea, and worked as a business developer at AquaGen.

Hagestande holds a degree in business administration from the Norwegian School of Economics (NHH), with a major in finance and a minor in economic analysis.

Hagestande replaces Gunnar Aftret, who resigned in May, as announced on May 26, 2023.

Aftret will remain available to the company in the capacity of a financial advisor until at least November 30, 2023, to ensure a smooth transition.

Masoval recorded a harvest of 7,573 tonnes for the second quarter of 2023, a 13 percent decline on production in the same quarter last year.

Operational earnings before interest and taxes (EBIT) declined from NOK 501 million in the same quarter last year to NOK 211 million, a 58 percent decrease.

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The company attributed the decrease in revenues to a lower harvested volume and more downgrading with lower salmon prices compared to the corresponding quarter last year.


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