News

20.05.2008

Eimskip Appoints Gylfi Sigfusson as Chief Executive Officer

Eimskip today announced the appointment of Gylfi Sigfusson as Chief Executive Officer (CEO) of Eimskip, effective immediately. Stefan Agust Magnusson, who served as interim CEO following the resignation of Baldur Gudnason in February 2008, will continue in his previous role as deputy CEO and Executive Vice President of Finance for the next two to three months while assisting Mr. Sigfusson during the transition period, after which Mr. Magnusson will leave the company to pursue other interests.

Mr. Sigfusson joined Eimskip in the year 2000 as Managing Director of Eimskip Americas and later became a member of the executive management team of Versacold/Atlas, the cold-store company which Eimskip acquired in 2007. Prior to Eimskip, he was the Managing Director for TVG, an Icelandic transportation company from 1990-1996 and Managing Director of Ambrosio Shipping in the U.S. from 1996-2000. A business graduate from the University of Iceland in 1990, Mr. Sigfusson has extensive experience in the transportation sector having worked in the industry for 18 years.

Commenting, Sindri Sindrason, Chairman of Eimskip said:
I am delighted to welcome Mr. Sigfusson to Eimskip as our new Group CEO. The board is confident that his extensive experience in the transportation sector will be of great benefit to the company. During his time at Eimskip, Mr. Sigfusson has been instrumental in developing the company’s growth plan and has played an important role in Eimskip’s business development in the U.S. and Canada. The last couple of years have seen Eimskip grow significantly through acquisitions and internal growth. Looking ahead, we plan to focus on integrating these businesses, while identifying growth opportunities in our existing markets.The board would also like to thank Mr. Magnusson for his dedication and contribution to Eimskip and for his assistance during the executive transition.

Commenting, Gylfi Sigfusson, CEO of Eimskip said:

I am very excited by the opportunity to lead Eimskip. Eimskip is among the leading transportation companies in the North Atlantic and the largest company in the world in cold store services and related transportation. Along with my fellow colleagues, we are committed to achieving Eimskip’s goals of becoming the international transportation company of choice for our customers, while growing revenue and profitability in each of our lines of business.I am looking forward to working with the management team and all my fellow employees to execute our strategic planand build upon Eimskip’s performance to date.

For further information:

Halldor Kristmannsson

Executive VP of Corporate Communications

Tel: (+354) 525 7000 / (+354) 825 7221