News

21.03.2007

Hf. Eimskipafelag Islands appoints new CEO

The Board of Directors of Hf. Eimskipafelag Islands has decided to appoint Baldur Gudnason as a CEO of the company.

Since 17th of May 2004, Baldur has been the CEO of Eimskipafelag Islands ehf, a subsidiary of Hf. Eimskipafelag Islands.  Before his appointment as the CEO, Baldur was a member of the company’s Board of Directors, where he worked with other Board members and Directors on implementing changes in the company structure.  Last month a decision was made to merge the two companies under the name of Hf. Eimskipafelag Islands.  The merger process is expected to be finalized within the next few weeks.

Hf. Eimskipafelag Islands’ turnover has multiplied over the last years.  Estimated turnover in 2007 is EUR 1,455 million and estimated EBITDA is EUR 135 million.  Approximately 80% of the company’s turnover stems from shipping and logistics.  The company has 183 operational bases in 31 countries, with almost 9,500 employees on a worldwide scale with approximately 1,000 employees in Iceland.

Magnus Thorsteinsson who has been an Executive Chairman of the Board of Directors of Hf. Eimskipafelag Islands will remain so.  He will continue to work on further developments for the company along with other Board members and Directors.  Other members of the Board are Sindri Sindrason, Thor Kristjansson, Eggert Magnusson and Gunnar M. Bjorg.