Credit: Nick Fewings / Unsplash

Seafood giant Royal Greenland has ended the contract of its CEO Susanne Arfelt Rajamand.

In a statement issued yesterday (10 February), Royal Greenland said its board of directors had decided to “terminate its cooperation with the current CEO”.

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Arfelt Rajamand has been Royal Greenland’s CEO since February 2023.

“Over the past two years, Royal Greenland has faced challenges in several areas. At this time, the board has unanimously concluded that the company requires a CEO with a different profile and we are therefore initiating a recruitment process. We thank Susanne for her cooperation and contributions,” chair of the board Maliina Abelsen said.

Until Royal Greenland finds her successor, current board member Preben Sunke will assume the role of CEO.

Sunke has 30 years of experience as CFO and, more recently, as COO at meat group Danish Crown.

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Royal Greenland declined to answer Just Food’s questions about the reasons why the Arfelt Rajamand was dismissed and the type of profile the company is looking for in the new CEO.

Just Food has contacted Arfelt Rajamand for comment.

In the first six months of 2024, the company booked a half-year pre-tax loss of DKr59m ($8.1m), compared to one of DKr113m a year earlier. Revenues rose from DKr2.55bn to DKr2.64bn.

“Despite this, the result is still considered unsatisfactory but the action plans in place are expected to have a positive impact in the second half of the year,” the company said when it announced the results.

Royal Greenland’s net revenue stood at DKr5.8bn in 2023, versus DKr5.76bn in 2022 and DKr5.64bn in 2021.

It generated a net loss of DKr211m in 2023, compared to a net profit of DKr186m in 2022 and a net profit of DKr257m in 2021.