Eimskip makes organizational changes

Friday, January 18, 2019
Eimskip’s operating environment has been changing lately which requires increased optimization and focus. Therefore, the following organizational changes have been made.

The main changes are that Hilmar Pétur Valgarðsson, Executive Vice President / CFO, will become COO and lead a new division, Operations, which merges the main operational entities of the company relating to vessel operation and sailing system. Egill Örn Petersen, Senior Manager of Finances will take on a new role as the company’s CFO. He will lead the company’s finance division. A new department reporting to the CEO, Business Process Management & IT, will take over the responsibilities of previously two separated departments.

Subsequently to these organizational changes the company’s sailing system will be streamlined. Weekly coastal sailings in Iceland will become bi-weekly, as previously announced, and the number of vessels in the Norwegian sailing system has been reduced by one.

Eimskip will increase services in relation to fresh fish and pelagic customers in the Faroe Islands by adopting a weekly schedule of the reefer and container vessel Svartfoss between Faroe Islands and UK. In addition there will be a bi-weekly schedule between Faroe Islands and the Netherlands.

These organizational changes will affect ten FTE’s either through layoffs or meaningful change of responsibilities. Most of these FTE’s are in the middle management layer of the company.

Salaries of the new CEO reflect the Board of Directors emphasis on lowering operational cost.

Further information on the new organizational chart of the company:

Operations is a new division which Hilmar Pétur Valgarðsson, current Executive Vice President / CFO, will lead. Responsibilities are operating units that have been part of both finance and operations and liner services divisions. All operating cost of vessels and production management of the container liner system will therefore be consolidated under one division increasing optimization within Operations.

The following units are part of Operations: vessels, sailing systems, containers, procurement, claims & insurances and safety & security.

Finance, previously Finance and Operations, will be responsible for all finances of Eimskip and subsidiaries internationally. Egill Örn Petersen who has been Senior Manager of Finances has been appointed new CFO.

Egill joined Eimskip in 2003 as a specialist in economics and planning and later lead that same unit. He was appointed Senior Manager of Finances in 2009. Egill has B.Sc. degree in business management from the University of Iceland.

Sales and Marketing, previously North Atlantic Container Liner Services, lead by Matthías Matthíasson, will continue to be responsible for sales, providing excellent services to customers in the company’s container liner system. Additionally the marketing department of Eimskip will become a part of this division.

Iceland Domestic Operations and Logistics lead by Guðmundur Nikulásson will continue to be responsible for domestic transportation, warehousing and terminal services in Iceland.

International Operations and Logistics lead by Bragi Þór Marinósson will continue to be responsible for Eimskip’s operations outside of Iceland except for vessel operation.

Human Resources, previously Human Resource and Marketing, lead by Elín Hjálmsdóttir, is responsible for Eimskip’s policies, coordination and execution of the HR strategy and CSR within Eimskip internationally. Elín will furthermore become the head of communication.

Business Process Management & IT, previously two separated units in the organizational chart, will be lead by Hilmar Karlsson, ICT Director, and is now directly reporting to the CEO.

Eimskip Organizational chart