The former CEO of Alaska processor Peter Pan Seafood is joining Alaska rival Silver Bay Seafoods as part of a restructuring that will see co-founder Richard Riggs step into an advisory role, according to an internal memo obtained by IntraFish.

Kevin Bixler, who left Peter Pan earlier this year, will join the group as chief revenue and business development officer, a job that includes overseeing the sales and logistics team, according to the memo.

Riggs, who co-founded the company in 2007 and served as its first CEO, will assist Bixler in the transition.