Marel: Changes in the organizational structure and Executive Team

Changes in the organizational structure and Executive Team

• Marel announces an organizational change where the Commercial function is split into two new functions, Service and Global Markets.
• New appointments to Marel’s Executive Team, Ulrika Lindberg to the position of Executive Vice President of Service, and Einar Einarsson to the position of Executive Vice President of Global Markets.
• Petur Gudjonsson to step down as Executive Vice President of Commercial and take on a new role within Marel.
• The objective of the changes is to drive continued growth and success by further enhancing customer experience and synchronize the way of working within the company globally.
• This new structure will allow for closer proximity to customers and better scalability to support Marel’s ambitious growth strategy going forward.

As of today, June 21, 2018, Ulrika Lindberg has been appointed as the Executive Vice President of Service, and Einar Einarsson has been appointed as the Executive Vice President of Global Markets. They will both become members of Marel´s Executive Team and report to Arni Oddur Thordarson, CEO of Marel. Petur Gudjonsson, former Executive Vice President of Commercial will take on a new role within Marel.

Ulrika Lindberg is 50 years old and has over 20 years of experience in global services having held senior positions at large international organizations such as Alfa Laval and Tetra Pak. In her previous position as Vice President of Global Service at Alfa Laval, she was responsible for successfully building a new unit with the overall objective to increase sales of services and improve service standardization in a global service organization. Ulrika will start her new position on September 15, 2018.

Einar Einarsson is 50 years old and has over 15 years of experience in managing Marel’s sales and service operations in North America. Einar became President of Marel Inc. in the US in 2003 and prior held several positions within Marel as a Sales Engineer, Area Sales Manager and Product Manager. Einar will take up his appointment as EVP of Global Markets as of today. Until his successor is announced, Einar will stay on as President of Marel Inc.

Arni Oddur Thordarson, CEO of Marel:

"We operate in a dynamic world where customer needs are evolving fast. Marel has enjoyed great success over the years built on our united team, strong customer relationships and significant investments into innovation and its infrastructure and facilities around the globe. To stay at the forefront of the industry and achieve our ambitious growth plans we need to evolve and enhance the customer journey further.

We are adjusting our organization and placing more emphasis on Global Markets and Services. We are fortunate to have a dynamic and talented leader in Einar Einarsson, who after devoting 15 years leading the successful buildup of Marel US is now ready to take on greater responsibility within the company as EVP of Global Markets. I am also delighted that Ulrika Lindberg is joining the Marel team as EVP of Services. She brings with her over 20 years of experience from leadership roles in global services in established organizations such as Alfa Laval and Tetra Pack. Together, they will bring new insights and company experience, which is a good mix to unlock the potential of our people and our business to strengthen our overall regional structure around the globe and improve service standardization.   

On behalf of everyone here at Marel, I want to take this opportunity to thank Petur Gudjonsson sincerely for his valuable contribution and dedicated service as Executive Vice President of Commercial. During his 34-year career at Marel, Petur has been an outstanding leader and instrumental in positioning us for success as we continue to build an excellent global marketing and sales organization. I am pleased that Petur will stay on at Marel so that we can continue to benefit from his innovative thinking and extensive experience gathered from his many roles around the globe at Marel.”

Marel Business Overview  - see attachment.

For further information:

• Tinna Molphy, Manager in Investor Relations, investors@marel.com and tel: (+354) 563 8603.

About Marel

Marel is a leading global provider of advanced processing systems and services to the poultry, meat and fish industries. Our united team of around 5,500 employees in over 30 countries delivered over EUR 1bn in revenues in 2017. Annually, Marel invests around 6% of revenues in innovation. By continuously advancing food processing, we enable our customers to increase yields, ensure food safety and improve sustainability in food production. Marel was listed on Nasdaq Iceland in 1992 and has over 2,000 shareholders.

Attachment

• Marel Business Overview - June 2018