Icelandic processing equipment manufacturer Marel named Arni Sigurdsson as its new CEO on Monday.
Sigurdsson was appointed chief business officer and deputy CEO of Marel in November 2022, and has held the position of interim CEO since Nov. 7, when Arni Oddur Thordarson abruptly resigned after 10 years in the role.
Sigurdsson joined Marel in 2014 initially as head of strategy before taking up the role of chief strategy officer and executive vice president strategic business units. Before joining Marel, he worked at AGC Partners and Landsbanki Islands.
"I have had the pleasure of working alongside Arni over a number of years, during which he has held various important leadership roles across our business, most recently the interim CEO position during an uncertain period for the company, which he has managed well," said Arnar Thor Masson, chairman of Marel.
"The board and I are confident that he has the skill set and experience needed to ensure Marel effectively manages the near-term headwinds and enable Marel to deliver on its significant potential, for the benefit of our shareholders and wider stakeholders."
It has been a busy month for Marel. Following the departure of longtime CEO Thordarson, the group received an unsolicited takeover bid from United States-based John Bean Technologies Corporation (JBT), offering to buy the company for $2.6 billion (€2.4 billion).
Marel subsequently rejected the offer claiming it undervalued the company, but faced criticism from shareholders who are now calling for a strategic review after the "low ball" offer.
