Haraldur Gretarsson, the managing director of Samherji's European operations, Deutsche Fischfang Union (DFFU) in Cuxhaven, Germany, will resign from his position in early April after almost three decades at the company.

Baldvin Thorsteinsson, the son of Samherji CEO Thorsteinn Mar Baldvinsson, has been appointed to replace Gretarsson and will be based in the Netherlands.

With regards to these changes, routine organizational adjustments will be made in the near future, the company said.