Fish farming company must find a new boss

The Icelandic fish farming company Kaldvik announced in a stock exchange release that Roy-Tore Rikardsen is stepping down as CEO with immediate effect.

The board has appointed Vidar Aspehaug as interim CEO while work to find a permanent successor is initiated.

Aspehaug joined the company in 2022 and has been part of the management for the past three years, with responsibility for fish health and quality work. He holds a PhD in fish health from the University of Bergen, and is the founder and former CEO of PatoGen AS.

"We are grateful for Roy-Tore's contribution during the transition period after the previous CEO and founder stepped down," said board chairman Asle Rønning.

Fantastic colleagues

Rikardsen said: "I have been privileged to have worked with fantastic colleagues in Kaldvík AS, and both the company and the industry will have a good future in Icelandic business in the coming years."

Rikardsen will be available to the company until February 2026 to ensure a smooth transition.

In 2024, Kaldvik experienced biological challenges such as high mortality, winter wounds and delayed smolt release, which led to a write-down of the value of the biomass of €23.1 million. 

The harvest forecast for 2025 was also adjusted downwards from 25,000 to 21,500 tonnes.

Austur Holding AS, which in turn is owned by the Måsøval family, owns 55.29% of the shares in the company.