Halibut farming company executive steps down

The CFO joined the company earlier this year.

Nordic Halibut CFO Thomas Scheele Berg is stepping down.Photo: Nordic Halibut

Hanna Gezelius

Correspondent

Norway-based Nordic Halibut announced Tuesday that CFO Thomas Scheele Berg is stepping down from his position so he can explore new professional opportunities.

The halibut farming company said it is pursuing a short-term interim solution that enables a transition until a permanent CFO is appointed. Berg will support and co-lead the CFO function until the end of February.

Nordic Halibut announced in April it would appoint Scheele Berg as its CFO, effective in August.

Berg, an investment manager, joined the halibut farmer from the investment firm Fred Olsen Investments, replacing outgoing CFO Kenneth Meyer.

During the second quarter of 2024, the company reported a quarterly loss of NOK 23.6 million (€2.0 million/$2.2 million), compared with a loss of NOK 7.6 million (€649,000/$721,000) during the same year-earlier period, after incurring higher operating expenses, due partly to higher feed prices.

Nordic Halibut’s revenue for the quarter was NOK 19.1 million (€1.6 million/$1.8 million), a decrease of 9.6 percent, which was attributable to the lower harvest volume. This is in line with the company’s strategy to focus on bigger-sized fish.

During the second quarter of 2024, the company harvested 140 metric tons of fish during the quarter, with an average weight of 4.5 kilograms. Forty-seven percent of its fish weighed more than 5 kilograms.

Run-rate harvest volumes of 4,500 metric tons head-on gutted (HOG) are expected in late-2026. Nordic Halibut retained its harvest target of 10,350 metric tons HOG in 2031.