Last year, Salmon Evolution emerged as the world’s leading producer of land-based salmon, harvesting 1,874 metric tons of fish.
As the company has grown more successful, the remuneration of its top executives has increased accordingly.
New figures released from the company on Wednesday show what this success has meant for the pay packets of the company’s top executives.
CEO Trond Håkon Schaug-Pettersen’s total remuneration increased from NOK 3,126,000 ($290,718) in 2022 to NOK 3,583,000 ($333,219) in 2023.
This reflects a rise in his base salary from NOK 2,228,000 ($207,204) to NOK 2,740,000 ($254,820), as well as an increase in fringe benefits and pension expenses.
COO Ingjarl Skarvøy’s total remuneration also rose from NOK 2,348,000 ($218,364) in 2022 to NOK 2,223,000 ($206,539) in 2023, with his base salary increasing from NOK 1,844,000 ($171,492) to NOK 1,946,000 ($180,978).
Other executives, such as CPO Kamilla Mordal Holo and CCO Odd Frode Roaldsnes, saw similar increases in their remuneration, reflecting the overall growth and success of Salmon Evolution in the land-based salmon production industry.
Trond Vadset Veibus, who joined the company in April 2023 as CFO took home NOK 1,243,000 ($115,000) for the year.
These increases in executive pay highlight the company’s strong performance and the critical role of its leadership in driving growth and maintaining its position as the world’s leading producer of land-based salmon.
Salmon Evolution’s primary facility at Indre Harøy on the Norwegian west coast is fully operational with an annual capacity of 7,900 tons HOG. When fully developed, this facility is expected to produce 31,500 tons HOG annually.
