A string of high-profile executives, including two former Marine Harvest (now Mowi) higher-ups, have exited a startup Singapore-based barramundi farming group, months after a CEO shift, and following a string of bad earnings results.
Barramundi Group, which is listed on the Euronext stock exchange, announced Friday that four board members had departed the group, including longtime aquaculture executive and former Marine Harvest CEO Hans den Bieman, ex-Barramundi Group CEO Andreas von Scholten, former Marine Harvest COO Marit Solberg and Sjoeberg Tristan Nenne.
Von Scholten, who stepped down as CEO late last year to take on a role with Taiwanese feed and farming company Grobest, was named chairman of the board earlier this year, taking over from den Bieman. Sjoberg served as a director, while Solberg held an independent director seat.
The resignations came just a few months after two other board directors stepped down. The executives both worked in the Brunei government.
Barramundi Group has struggled with widening losses in the past two years in particular. The company posted a steep loss of SGD$19.7 million ($14.51 million/€12.17 million) in 2022, which was only slightly less than a SGD$24.9 million ($18.3 million/€15.4 million) loss the year prior.
The company blamed the poor results in part on a viral outbreak at a Singapore growout site.
Barramundi Group managed to report SGD$35.2 million ($25.87 million/€21.73 million) in revenues last year -- slightly higher than in 2021.
Shares in Barramundi Group are down more than 50 percent over the past year.
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