Simon Nyquist Martinsen on Tuesday announced his resignation as CFO of aquaculture equipment supplier Akva Group, after three years in the role.

The company's CEO Hallvard Muri stepped down in November. He was replaced by ex-Nutreco CEO Knut Nesse, who told IntraFish the decision for Muri to step down was "two-sided."

The company's third quarter earnings last year leapt on stronger feed barge and aquaculture cage orders, but the group expected losses in the fourth quarter.

Martinsen will continue to serve as CFO in his six months’ notice period, until a replacement is found.