New Lighthouse chairman elected

James J. Mullins was elected as new chairman of the board of directors at the meeting held on 31 March in Oslo. Mullins represents Northern Link Ltd, the new majority shareholder of Lighthouse Caledonia ASA.

He follows Gabriel Smith who resigned from the board earlier in March, following an agreement with Northern Link that it was natural to adapt the composition of the board of directors to the new situation in which the company now finds itself, following the successful completion of the restructuring and the change in the shareholder structure.

James J. Mullins has over 25 years extensive experience in finance and is a director of numerous funds and companies including FMNVF II and Russian Federation First Mercantile Fund. His experience in the UK includes working for Deloitte & Touche and British Coal.

In Russia he was head of the Corporate Restructuring Department at Coopers & Lybrand and later co-founded Branan ManagementConsultants.

From 2004 to 2007 he was the Chief Financial Officer at Rambler Media and was one of the key players in its successful listing on the London Stock Exchange.  

OddGeir Oddsen, CEO of Lighthouse Caledonia told FishfarmingXpert that the last few months had been extremely tough and frustrating. The investment by Northern Link, was however an important turning point for the company:

“We have had a difficult year.

"2009 will not be easy, but it is a lot better place to be,” he said.