Salmon Evolution confirms Schaug-Pettersen as CEO

Land-based fish farmer Salmon Evolution has named Trond Håkon Schaug-Pettersen as its Chief Executive Officer. He has previously covered the role on an interim basis.

The company has also appointed Trond Vadset Veibust as Chief Financial Officer.

Schaug-Pettersen was appointed CFO of Salmon Evolution in October 2020 and has also held the position as interim CEO, since October 2022 when the previous incumbent, Håkon André Berg, stepped down for what the company described as “personal family matters”.

Schaug-Pettersen has extensive experience from both the seafood industry and the capital market. Before joining Salmon Evolution, he served over four years as Senior Vice President Finance and Business Development at salmon farmer and processor Hofseth International and, prior to that, nine years as an investment banker at Swedbank/First Securities.

He said: “I am excited and honoured to take on the position as CEO of Salmon Evolution. 2022 was a milestone year for the company which we rounded off by successfully harvesting out our first batch with very strong results, all thanks to our excellent group of dedicated employees. More than ever, I am confident that Salmon Evolution has a unique platform to shape and lead the development of land-based salmon farming, both in Norway and abroad.”

Tore Tønseth, Chairman of the Board of Directors said: “Trond Håkon has long experience from and deep understanding of the salmon industry, he knows the company from the inside and out, he is a great representative for Salmon Evolution’s unique corporate culture, and he enjoys strong support within the company and amongst key stakeholders. Furthermore, with the company now ramping up its activity level both in Norway and abroad, the appointment of Trond Håkon secures continuity during this important phase.”

New CFO Trond Vadset Veibust comes from Ekornes, a furniture producer with global distribution and operations, where he has been for eight years, including the last three years as a member of the executive management. Most recently he was Senior Vice President for Ekornes’ global operations.

Veibust has previously also worked for four years at Ernst & Young as an auditor. He is a state authorized public accountant and has a MSc from the Norwegian School of Economics (NHH). Veibust will join Salmon Evolution during the second quarter of 2023.

CEO Trond Håkon Schaug-Pettersen commented: “I am very pleased to have Trond joining our executive management team as CFO. Trond has unique operational and international experience coupled with a strong financial skillset which I am confident that Salmon Evolution will benefit greatly from.”

Salmon Evolution is a Norwegian land-based salmon farming company aiming to grow its production capacity to 100,000 tonnes by 2032. Its site at Indre Harøy on Norway’s west coast operates a hybrid flow-through system.

The company is also building a flow-through salmon farm in South Korea through its joint venture with Dongwon Industries.