Norwegian krill player appoints new chief

08-Jun-2015 - Last updated on 09-Jun-2015 at 15:38 GMT

“Aker BioMarine has appointed a talented leader with a vision of how to take the company into the future.”

Matts Johansen has been appointed CEO of krill major Aker BioMarine with a mandate to “to continue to develop one of Norway's most exciting biotechnology companies into a solid and predictable company”.

One analyst suggested the move was in part provoked by the firm’s frustration over the length of time it was taking to achieve profitability for its krill business, with high costs and slower than expected demand playing a part.

38-year-old Johansen has been with Aker for five years and was the former chief operating officer and he replaces Hallvard Muri who is stepping down after seven years at the helm. Muri joined Aker in 2002 will retain a seat on the board.

“I'm extremely grateful for the work Hallvard has done for Aker BioMarine and I'm happy that he will continue to be a part of Aker going forward,” said Aker chair Kjell Inge Røkke.

"Under Hallvard's leadership, the company has become a global market leader in the krill-based ingredients sector. With a near 40% annual revenue growth, Aker BioMarine is now a well-run company that has moved past its challenging financial situation."

HallvardMuri&HenriHarland-krill — Muri (r) with former Neptune Technologies & Bioressources chief Henri Harland. Leadership has now changed hands recently at the world's two biggest krill players.

“Aker BioMarine has appointed a talented leader with a vision of how to take the company into the future.”

Aker BioMarine sells versions of omega-3 rich krill oil derived from its own Antarctic fishing operations into the human nutrition and animal feed sectors.

Omega-3 forms eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) have won EU health claims around brain, heart and eye health.