Oslo-listed The Scottish Salmon Company (SSC) has appointed a new CEO following its merger with Faroese salmon giant Bakkafrost.

Odd Eliasen, managing director of Bakkafrost subsidiary Havsbrun's, will step in as SSC's CEO replacing Craig Anderson, effective immediately.

The two companies jointly agreed on the change.

Eliasen has previously held a variety of board and executive positions in the fish farming industry. He has also helped restructure the fish farming industry in the Faroe Islands.

Anderson led many positive developments at SSC during his reign, which culminated in the successful merger with Bakkafrost.

“Craig’s reputation within SSC and the industry is one of a strong leader with a firm commitment to the company’s stakeholders," Eliasen said in a statement. "My near-term objective will be to ensure a smooth integration of the business so the combined company can deliver the strategic synergies that underpinned the rationale for the acquisition.”

Bakkafrost now owns 95.6 percent of SSC, after several shareholders accepted the mandatory offer for all of their shares.

During the offer period between Nov. 8 and Dec. 9, shareholders holding 24,585,445 shares in SSC accepted Bakkafrost's NOK 28.25 (€2.80/$3.10) per share offer.

SSC CEO Craig Anderson, along with non-executive director Douglas Low and Business Development Director Susan Cox, where among the larger shareholders that cashed in.

In October, Bakkafrost announced it completed the acquisition of 133,125,109 shares of SSC from Northern Link for NOK 3.76 billion (€374.2 million/$411.1 million) or NOK 28.2 (€2.80/$3.10) per share.

Minority shareholders were previously criticizing the bid, stating they wanted the same offer that was given to Northern Link.

Bakkafrost also signed a binding agreement on Dec. 9 to secure a €352 million ($389 million) loan package for the next five years in order to fund the SSC deal, refinance existing bank facilities, and to secure more growth in the future.