New Zealand King Salmon has promoted its general manager of sales, Graeme Tregidga, to chief commercial officer.
Tregidga was acting CEO for the company between Nov. 1, 2022 and Aug. 4, 2023, before ex-brewery manager Carl Carrington was hired as the new CEO.
He will begin in the new role on Oct. 23.
New Zealand King Salmon posted a huge improvement in earnings in the first half of its 2024 fiscal year after strategies to reduce mortalities at its salmon farms proved successful.
The company, which has been struggling with warming sea temperatures, pulled its earnings before interest, tax, depreciation and amortization (EBITDA) into the black in the six months to July 31, hitting NZD 10.7 million (€5.9 million/$6.3 million).
This time last year, this number sat as a loss of NZD 12.7 million (€7.1 million/$7.5 million) after it suffered extraordinary mortalities through the summer months.
The company has been trying to find ways of coping with warming water temperatures at its current farm sites, while waiting for final approvals to move parts of its production offshore to deeper, cooler waters.
The project, once the baseline monitoring has been completed and final permissions given, which is expected in the second half of this financial year, will include a pilot farm of two pens stocked with smolt and put in offshore waters, which will add around 10,000 metric tons to the company's production.
