Salmon Evolution strengthens the executive management team – appoints Trond Håkon Schaug-Pettersen as CEO and Trond Vadset Veibust as CFO

Salmon Evolution ASA (the “Company” or “Salmon Evolution”, OSE: SALME) is pleased to announce that its Board of Directors has appointed Trond Håkon Schaug-Pettersen as new CEO of the Company. Schaug-Pettersen was appointed CFO of Salmon Evolution in October 2020 and has since October 2022 also held the position as interim CEO.

Schaug-Pettersen has extensive experience from both the seafood industry and the capital market and has over the last two years been an integral part of Salmon Evolution’s executive management. Before joining Salmon Evolution, he served over 4 years as Senior Vice President Finance and Business Development at salmon farmer and processor Hofseth International and, prior to that, 9 years as an investment banker at Swedbank/First Securities.

Tore Tønseth, Chairman of the Board of Directors comments: "The Board of Directors is pleased to have an internal candidate take over the helm at Salmon Evolution. 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.”

“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”, said Trond Håkon Schaug-Pettersen.

Salmon Evolution has also appointed Trond Vadset Veibust (37) as new CFO. Veibust comes from Ekornes where he has been for 8 years, of which for the last 3 years as a member of the executive management. Ekornes is a major furniture producer with global distribution and operations, and during his time there, Veibust has held several executive positions, most recently as Senior Vice President for Ekornes’ global operations. Veibust has previously also worked 4 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 comments: “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.”

“I have followed Salmon Evolution from the outside for some time and I very much look forward to contribute in developing the Company into a leading player in the global salmon market”, comments Trond Vadset Veibust.

For further information, please contact:

Tore Tønseth                               
Chairman, Salmon Evolution                     
+47 958 06 277                                    

Trond Håkon Schaug-Pettersen
CEO, Salmon Evolution
+47 911 91 327

About Salmon Evolution

Salmon Evolution is a Norwegian land-based salmon farming company targeting a production capacity of 100,000 tonnes HOG by 2032. The Company’s core focus is on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its chosen hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk. 

The Company’s first production facility is strategically located at Indre Harøy on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure, and an educated and experienced work force. Phase 1 is already in operation and will have an annual capacity of 7,900 tonnes HOG at steady state. Fully developed, the Indre Harøy facility will have an annual capacity of 31,500 tonnes HOG.

The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s chosen HFS technology.

Furthermore, Salmon Evolution has initiated a process with the aim of establishing a land-based salmon farming operation in North America.

Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME.

To learn more, please visit www.salmonevolution.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.