Grieg Seafood appoints interim CEO Nina Willumsen Grieg as permanent head

NORWAY – Norwegian salmon farming company Grieg Seafood has confirmed that Nina Willumsen Grieg, who has served as interim chief executive since March, is now taking on the role permanently.

She stepped in earlier this year following the resignation of Andreas Kvame, who left the position after a decade with the company.

Before assuming the interim role, Willumsen Grieg was regional director at Grieg Seafood Rogaland, which oversees the company’s Norwegian operations.

The announcement was made on August 26 in connection with the release of Grieg Seafood’s second-quarter financial report.

Revenue for the quarter increased by 180 percent, reaching US$95.6m (Nkr1.01bn), while harvest volumes grew by 219.3 percent to 8,850 tonnes GWT compared to 2,771 tonnes GWT in the same quarter last year.

Operating profit (EBIT) for the quarter rose to US$3.1m (Nkr33m) from US$2.7m (Nkr28m) in the prior year, though the company still posted a pre-tax loss of US$6.2m (Nkr65m), narrowing from a US$9.9m (Nkr104m) loss in 2024.

For the first half of 2025, revenue climbed 20.7 percent to US$183.7m (Nkr1.94bn), while harvest volumes rose 33.4 percent to 16,269 tonnes GWT, up from 12,196 tonnes GWT a year earlier.

Despite higher sales and output, EBIT for the half-year dropped to US$852,000 (Nkr9m) from US$16m (Nkr169m) in 2024, with operational EBIT standing at US$27.5m (Nkr291m) compared to US$34.8m (Nkr368m) last year.

The company recorded a first-half pre-tax loss of US$42.3m (Nkr446m), compared with a profit of US$5m (Nkr53m) in the same period in 2024.

In her comments on the financial update, Willumsen Grieg said the group remains focused on its ongoing restructuring, including improving financial stability and preparing for sustainable long-term profitability.

Divestment plan

In July, Grieg Seafood entered an agreement to sell three salmon processing facilities and related assets to Cermaq for US$966.5m (Nkr10.2bn).

The deal involves operations in Finnmark, British Columbia, and Newfoundland, along with sales activities in Canada and a 50 percent share in Nordnorsk Smolt.

According to the company, the sale is expected to significantly strengthen its financial position once completed, which is anticipated in the fourth quarter of 2025 subject to regulatory approval.

Willumsen Grieg added that Rogaland will remain central to Grieg Seafood’s activities, citing the region’s consistent performance in terms of growth, survival rates, and cost control.

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