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Leif Inge Nordhammer Appointed New SalMar CEO

13 January 2014

NORWAY - Leif Inge Nordhammer has agreed to become Salmar's new CEO with effect from 20 January 2014. Nordhammer previously served as SalMar's CEO for a period of 15 years until he stepped down in 2011.

After a three-year break from operational management, Leif Inge Nordhammer has agreed to return to the top slot at SalMar. During Nordhammer's previous tenure as CEO, from 1996 until 2011, SalMar developed from a regional fish-farming operation into a leading international enterprise. This period of growth was characterised by strong results, both operationally and financially. The company has continued to build on this foundation over the past three years.

Bjørn Flatgård, who chairs SalMar's board of directors, said he was delighted to have concluded the search for Yngve Myhre's successor as chief executive so quickly and so satisfactorily.

"I am extremely happy with Leif Inge Nordhammer's appointment. We are fortunate in having maintained close ties with him over the past few years. And when we started looking for a new CEO it was perfectly natural that we should approach Leif Inge first. SalMar has a very strong position operationally, strategically and financially, and I am convinced that under Leif Inge's leadership the Group will exploit this potential in the time ahead," said Bjørn Flatgård.

The company's Board Chair also pointed out that the appointment reinforces SalMar's bonds in the region; its headquarters are in the Frøya district of South Trøndelag.

During Nordhammer's previous term as CEO, SalMar was known for its strong biological focus. This was also the foundation of the substantial growth it achieved during the period. It gave the company a competitive advantage and contributed strongly to its good results.

"SalMar has always played a key role in my life, as a shareholder, senior executive and, most recently, as a member of the board of Kverva AS, SalMar's majority shareholder. When I was approached about taking over as CEO again, and at the same time felt that the energy and the desire to step back into the role had returned, I didn't need much time to mull over my decision," said Nordhammer.

"I know the company, its employees and management, as well as its largest shareholder. I know the company's strengths and have some thoughts about what can be improved. I know what I am taking on, and am looking forward to getting started."

In connection with his appointment, Nordhammer will resign his directorships in associated companies, such as Måsøval Eiendom and Aqualine.

At the time he takes up his appointment, Leif Inge Nordhammer owns, directly or indirectly, 2,007,928 shares in SalMar ASA.

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