Appointment of new Managing Director in Marine Harvest Chile

January 11, 2011 11:50

Managing Director of Marine Harvest Chile, Mr. Alvaro Jimenez, has decided to step down with effect from 10 January 2011. To ensure a smooth handover to the new Managing Director, Mr. Jimenez will work as a special advisor for Marine Harvest Chile until 10 April 2011. Jimenez has been the Managing Director in Chile since April 2008, reports www.megafishnetcom with reference to Marine Harvest.

- We are grateful for Alvaro Jimenez' strong contribution in the significant downscaling and turnaround of our Chilean operations over the last years, required when the ISA disease struck the entire Chilean salmon farming industry in 2007. He took over management at a critical point in time, and has rapidly reduced Marine Harvest's exposure in Chile and positioned the organisation and the asset base for profitable growth when the conditions are right. On behalf of Marine Harvest I wish Alvaro the best of luck in his future endeavours, says the CEO of Marine Harvest, Alf-Helge Aarskog

Mr. Roberto Riethmüller has been appointed new Managing Director for Marine Harvest Chile, with effect from 10 January 2011. Mr. Riethmüller has a financial and economic degree from Pontificia Universidad Catolica De Chile in Santiago and has held several key positions in Marine Harvest Chile since 2004. During the last year Riethmüller has worked at the Marine Harvest headquarters in Oslo, responsible for the financial follow up of Marine Harvest Chile and certain other business units within the Group.

Marine Harvest Chile had a peak harvest volume of approximately 100,000 tonnes (HOG) in 2006 and bottomed out its output in 2010 with approximately 9,000 tonnes (HOG). Based on the current analysis of biological development and the new regulatory and operating framework, Marine Harvest Chile has adopted a cautious plan for the next years, implying harvest volumes of approximately 28 000 tons (HOG) by 2012. Should the developments in coming years prove positive, Marine Harvest Chile has the required licence and asset base for significant subsequent growth.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).

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