CEO of Cermaq ASA resigns

The CEO of Cermaq ASA, Mr. Geir Isaksen, has accepted the position as CEO of NSB Group, Norway's largest transport group. Accordingly Mr. Isaksen will leave his position as CEO of Cermaq ASA, reports www.megafishnet.com with reference to Cermaq.

The Board of Cermaq will immediately initiate the recruitment of a new CEO. Mr. Geir Isaksen will continue as CEO of Cermaq until 30 September 2011.

Mr. Geir Isaksen has been CEO of Cermaq ASA (previously named Statkorn Holding AS) since 1996. Chair of the Board, Mr. Bård Mikkelsen states:

- The Board regrets the resignation of Mr. Gir Isaksen, but understands his decision and expresses its gratitude to Mr. Geir Isaksen for his determined and dedicated efforts as CEO over a period of 15 years.  Mr. Isaksen has been responsible for the restructuring of the company's operations from grain trading to aquaculture, and the strategic development of Cermaq into a leading global company within farming of salmon and trout and production of fish feed. Under his leadership, Cermaq has grown to a throughout solid company, with a strong financial position, good performance and operations in all regions, and a competent organization.

CEO Geir Isaksen states:

- It has been a privilege to take part in building Cermaq to a leading global player in the aquaculture industry. I choose to leave Cermaq at a point in time when the operations and the organization are sound at all levels, and the results are good. It is now time to pass on the responsibility to other good forces that can further build the company based on this fundament. Thus, I am excited to take on new challenges in the NSB Group.