Norcod, Norway's largest cod farmer, named Christian Riber as its new CEO, replacing Hilde Storhaug.

Riber stepped down from his position as chairman to the board and commercial director with Danish frozen seafood supplier Sirena Group, which holds a stake in the cod farming group.

Storhaug, who took on the CEO role in April, will continue with Norcod in a new position as chief sustainability officer.

Former Mowi COO Marit Solberg will step up as the new chairman to the board. Solberg was formerly the chairman of the board of the Norwegian Seafood Council.

In its startup phase, Norcod aims for an annual production of 6,500 metric tons of fish, but longer term plans are to produce 25,000 metric tons.

The cod farmer began trading its stock on Oslo Stock Exchange's lower cap Euronext Growth in October.

The company recently raised NOK 250 million (€23 million/$26.9 million) in a private placement that was oversubscribed multiple times, with both domestic and international investor interest, according to the company.