OSLO, NORWAY: The Board of Directors of Atlantic Sapphire ASA has received a request from Johan Andreassen, the CEO, to resign from his role. Mr. Andreassen will stay as an interim CEO until a new one is found. The Company will begin the search for a new CEO right away.

Johan E. Andreassen said: “The Company is transitioning from a long entrepreneurial stage to a more mature industrial stage, and I think it is time for me to hand over the CEO role to someone who can lead that change, and I will assist in finding and training my replacement. I am ready to move on and focus more on other personal goals that I have neglected over the past years, including other businesses that I am part of.

As the founder of the Company, who was the Chairman from 2010 until last year and the CEO since 2016, Atlantic Sapphire is and will always be my “baby”. I will keep supporting the Company as much as I can to help it reach its objectives. I am very proud of our team that has worked hard for a long time, and I believe that the Company will make farming the most sustainable, healthy, fresh and tasty salmon in America a successful venture.”

Kenneth J. Andersen, the Chairman of the Company, stated “We are grateful to Johan for his key role in shaping the Company into what it is now, on behalf of the Board of Directors. We respect Johan’s choices and value his ongoing involvement in the Company in a new role. Johan has created a strong team that we trust will play a vital role in the Company’s future growth and development.”

Additionally, the Company is naming Mario Palma as COO. He is now the Director of Aquaculture Engineering. Mr. Palma has eight years of RAS experience from companies like Mowi before joining Atlantic Sapphire in 2017, and he has been part of the US project from the start. He has 14 years of technical and operational expertise on how to run the facility in an organized way as the Company moves to an industrial stage. The Board of Directors is happy that Mr. Palma has taken this position and will start it right away. Jon-Birger Løvik will stay with the Company in another role.

Atlantic Sapphire announces restructuring of the organization