Aegir Pall Fridbertsson, who has been chief operating officer at Brim for the past five years, has officially taken over as the new CEO of Iceland Seafood International.

He succeeds Bjarni Armannsson, who announced in September he was stepping down from his position as CEO after five years on the job.

Before joining Brim, Fridbertsson was managing director of Icelandic seafood company Utgerdarfelag Reykjavikur for three years, and prior to that was managing director of Icelandic fishing company company Isfelag Vestmannaeyja for nine years.

"I’m very pleased to take the helm at Iceland Seafood," said Fridbertsson at the time. "I believe the company has a good potential and I look forward to working with its employees, suppliers and customers to further develop the company," he said.

At the end of August, ISI agreed to sell 100 percent of the share capital of its struggling UK division, Iceland Seafood UK (IS UK), to Danish processing giant Espersen at "a substantial loss".

The group posted a second quarter loss of €100,000 ($109,182), as a result of higher raw material costs, particularly for salmon, as consumers cut back on seafood buying amid tough economic conditions. Second quarter revenue also slid 13 percent to €47.4 million ($51.8 million).

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