The CEO of salmon farming group Salmonor is stepping down to take on the chairman role at parent company NTS in the latest shift in the ongoing takeover battle for the Norwegian aquaculture group.
Salmonor CEO Vibecke Bondo, who has led the company since 2010, will step down to free up time for the new role, as well as ensure appropriate corporate governance, the group said Monday.
The NTS board announced other board shifts, including proposing Paal Johnsen take over as chairman at the group's other salmon farming subsidiary, Norway Royal Salmon (NRS). Johnsen will resign as chairman of the board of Salmonor and be replaced by Roald Dolmen.
NTS shareholders will vote on the proposals on April 29, while NRS shareholders will vote on the proposals April 20.
The change takes place while the Gustav Witzoe’s company Salmar is trying to buy NTS. So far the group has received acceptance from 50.2 percent of the shares.
It's only the latest in a dramatic takeover battle at the group.
Last week, Norway Royal Salmon announced it is filing a lawsuit against NTS, and claiming compensation for breach of contract, in an ongoing dispute.
The move followed NTS's decision on April 7 to vote down a capital raise for Norway Royal Salmon which would enable it to buy Salmonor.
