September 14, 2010

Denmark's Royal Greenland appoints new CEO

Denmark's Royal Greenland has announced the appointment of Mikael Thinghuus, the present CEO of IDdesign, as the new chief executive.

The present chief executive of Royal Greenland, Flemming Knudsen, has decided to retire after more than 40 years in the business community in order to pursue a career in the boards of directors.

Knudsen has managed Royal Greenland through a difficult period comprising a recapitalisation and reduction of the company scope. The results and cash flow are improving after a difficult 2008-09. Thus, the new management can set to work on the many forward looking business opportunities available in the company.

Thinghuus starts his appointment on April 1, 2011 at the latest, but it is expected to be sooner.

Royal Greenland is the seventh largest fishing and fish processing company in Europe. The company has about 2,000 employees and has a turnover of about DKK4.5 billion.