New Board of Directors of Marine Farms ASA

March 24, 2010 10:06

NIREUS SA announces the election of a new Board of Directors of the Norwegian listed company MARINE FARMS ASA, in which the group controls, directly and indirectly, 33%, reports with reference to Nireus.

The Extraordinary General Meeting of Shareholders that elected the new Board was held on 17 March 2010, at the request of NIREUS.

The composition of the new seven-member Board is:

Epaminondas Lambadarios, Chairman
Dimitrios Loumpounis, Member
Aristides Belles, Member
Kristin Krohn Devold, Member
Tone Bjornov, Member
Katherine Innes Ker, Member
Edoardo Bugnone, Member

Mr. Vassilios Theofanopoulos, was also elected as a personal alternate to Mr. Belles and Mr. Loumpounis.

Mr. Epaminondas Lambadarios is a lawyer, holds a Masters degree from Harvard University and has significant experience in multinational companies and transactions. He is a Non-Executive Member of the Board of NIREUS.
Mr. Aristides Belles is an Economist, the President, CEO and major shareholder of NIREUS.
Mr. Dimitrios Loumpounis, a member of the Board of Marine Farms since 2009, is a graduate of National Technical University (EMP) and an Executive Board Member of NIREUS.
Ms Kristin Krohn Devold has served as Minister of Defense for Norway and holds prominent positions in the political and business environment of the country. She holds an MSc in Business.
Ms Tone Bjornov, a member of the Board of Marine Farms since 2009, is a business consultant with a degree in business administration and considerable experience in banking and finance. She has served as the General Director of the largest Norwegian bank.
Ms Katherine Innes Ker is big business consultant with a doctorate in biophysics and chemistry from the University of Oxford.
Mr. Edoardo Bugnone holds a degree in business administration from the University of Geneva, and has professional expertise in investment activities.
Mr. Vassilios Theofanopoulos holds an MBA from London Business School and serves as the Director of Strategy, M&A and Corporate Development NIREUS.

Three members of the Board are connected with the major shareholder, NIREUS, while the remaining four members are independent, in compliance with all relevant provisions of law and corporate governance. The term of office is two years.

NIREUS' Management believes that the new Board of Directors of MARINE FARMS corresponds to the need for strengthening the management of the company and will be a catalyst for the further improvement of its business performance and its value for all shareholders.

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