SalMar Management

Management criteria checks 2/4

SalMar's CEO is Frode Arntsen, appointed in Oct 2022, has a tenure of 2.08 years. total yearly compensation is NOK6.55M, comprised of 68.1% salary and 31.9% bonuses, including company stock and options. directly owns 0.005% of the company’s shares, worth NOK4.10M. The average tenure of the management team and the board of directors is 4.6 years and 2.4 years respectively.

Key information

Frode Arntsen

Chief executive officer

NOK 6.6m

Total compensation

CEO salary percentage	68.1%
CEO tenure	2.1yrs
CEO ownership	0.005%
Management average tenure	4.6yrs
Board average tenure	2.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Frode Arntsen's remuneration changed compared to SalMar's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	NOK 3b
Jun 30 2024	n/a	n/a	NOK 4b
Mar 31 2024	n/a	n/a	NOK 2b
Dec 31 2023	NOK 7m	NOK 4m	NOK 3b
Sep 30 2023	n/a	n/a	NOK 959m
Jun 30 2023	n/a	n/a	NOK 909m
Mar 31 2023	n/a	n/a	NOK 4b
Dec 31 2022	NOK 4m	NOK 3m	NOK 3b
Sep 30 2022	n/a	n/a	NOK 4b
Jun 30 2022	n/a	n/a	NOK 4b
Mar 31 2022	n/a	n/a	NOK 3b
Dec 31 2021	NOK 4m	NOK 2m	NOK 3b
Sep 30 2021	n/a	n/a	NOK 2b
Jun 30 2021	n/a	n/a	NOK 2b
Mar 31 2021	n/a	n/a	NOK 2b
Dec 31 2020	NOK 4m	NOK 2m	NOK 2b
Sep 30 2020	n/a	n/a	NOK 3b
Jun 30 2020	n/a	n/a	NOK 2b
Mar 31 2020	n/a	n/a	NOK 2b
Dec 31 2019	NOK 4m	NOK 2m	NOK 2b
Sep 30 2019	n/a	n/a	NOK 3b
Jun 30 2019	n/a	n/a	NOK 4b
Mar 31 2019	n/a	n/a	NOK 4b
Dec 31 2018	NOK 3m	NOK 2m	NOK 4b
Sep 30 2018	n/a	n/a	NOK 3b
Jun 30 2018	n/a	n/a	NOK 3b
Mar 31 2018	n/a	n/a	NOK 3b
Dec 31 2017	NOK 2m	NOK 154k	NOK 2b

Compensation vs Market: Frode's total compensation ($USD591.59K) is below average for companies of similar size in the UK market ($USD3.23M).

Compensation vs Earnings: Frode's compensation has increased by more than 20% in the past year.

CEO

Frode Arntsen (54 yo)

2.1yrs

Tenure

NOK 6,553,000

Compensation

Mr. Frode Arntsen serves as Chief Executive Officer at SalMar ASA since October 2022. He currently had been COO of Industry and Sales at SalMar ASA since December 1, 2017 until October 2022. He served as D...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Gustav Witzoe	Co-Founder	2.8yrs	NOK 648.00k	no data
Frode Arntsen	Chief Executive Officer	2.1yrs	NOK 6.55m	0.0053% NOK 4.1m
Ulrik Steinvik	Chief Financial Officer	3.1yrs	NOK 4.32m	0.015% NOK 11.9m
Simon Sobstad	Chief Operating Officer of Sales & Industry	2.1yrs	NOK 3.68m	no data
Arthur Wisniewski	Director of Human Resource Management	6.8yrs	NOK 3.20m	0.0021% NOK 1.6m
Runar Sivertsen	Chief Strategy Officer	4.6yrs	NOK 3.09m	0.0034% NOK 2.7m
Roger Bekken	Chief Operating Officer of Farming	6.4yrs	NOK 5.09m	0.011% NOK 8.5m
Tonette Bjørgård	Head of Accounting	no data	no data	no data
Hakon Husby	Head of Investor Relations	4.7yrs	no data	no data

4.6yrs

Average Tenure

50yo

Average Age

Experienced Management: SALMO's management team is considered experienced (4.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Gustav Witzoe	Co-Founder	2.8yrs	NOK 648.00k	no data
Morten Loktu	Independent Director	2.4yrs	NOK 443.00k	0.00076% NOK 589.9k
Margrethe Hauge	Independent Director	7.4yrs	NOK 435.00k	no data
Leif Nordhammer	Director	4.4yrs	NOK 305.00k	1.02% NOK 787.9m
Arnhild Holstad	Independent Director	2.4yrs	NOK 305.00k	0.0025% NOK 2.0m
Ingvild Kindlihagen	Employee Representative Director	1.4yrs	NOK 982.00k	0.000030% NOK 23.3k
Hans Stolan	Employee Representative Director	1.4yrs	NOK 584.00k	no data

2.4yrs

Average Tenure

64yo

Average Age

Experienced Board: SALMO's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.

SalMar Management

Management criteria checks 2/4

Key information

Recent management updates

Insider recently sold kr5.3m worth of stock

Less than half of directors are independent

Less than half of directors are independent

SalMar ASA Appoints Ulrik Steinvik as New CFO

SalMar ASA Announces Executive Changes

SalMar Announces CFO Changes

Recent updates

SalMar ASA (OB:SALM)entered into an agreement to acquire an unknown minority stake in As Knutshaugfisk.

SalMar ASA Provides Production Guidance for the Third Quarter and Reaffirms Production Guidance Full Year of 2024

SalMar ASA (OB:SALM) acquired remaining 45% stake in Refsnes Laks AS.

SalMar ASA to Report Fiscal Year 2024 Results on Apr 25, 2025

Insider recently sold kr5.3m worth of stock

First quarter 2024 earnings released: EPS: kr6.20 (vs kr12.38 in 1Q 2023)

Dividend increased to kr35.00

Less than half of directors are independent

SalMar ASA Proposes Cash Dividend, Payable on June 20, 2024

Full year 2023 earnings released: EPS: kr19.40 (vs kr26.75 in FY 2022)

SalMar ASA Proposes Dividend for the Financial Year 2023

Less than half of directors are independent

SalMar ASA Provides Production Guidance for the 2023

SalMar ASA to Report Q3, 2024 Results on Nov 12, 2024

SalMar ASA to Report Q4, 2022 Results on Feb 22, 2023

SalMar ASA (OB:SALM) completed the acquisition of NTS ASA (OB:NTS) from a group of shareholders.

SalMar ASA Appoints Ulrik Steinvik as New CFO

SalMar ASA Announces Executive Changes

SalMar Announces CFO Changes

SalMar Maintains Production Guidance for the Full Year 2022

SalMar ASA to Report Q4, 2022 Results on Feb 22, 2023

NTS ASA (OB : NTS) agreed to acquire additional 37% stake in NTS ASA (OB : NTS) from Helge Gåsø for NOK 5.6 billion.

Salmar Asa Appoints Linda Litlekalsøy Aase as CEO

SalMar ASA Announces Cash Dividend, Payable on or About June 22, 2022

SalMar ASA Appoints Linda Litlekalsøy Aase as New CEO, Effective 1 June 2022

Employee Representative Director recently sold kr201k worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Less than half of directors are independent

SalMar ASA Appoints Gunnar Nielsen as CFO, Effective April 1, 2022

Less than half of directors are independent

Insider recently sold kr391k worth of stock

Third quarter 2021 earnings released: EPS kr5.85 (vs kr3.28 in 3Q 2020)

Less than half of directors are independent

Less than half of directors are independent

SalMar ASA (OB:SALM) entered into an agreement to acquire an unknown stake in Refsnes Laks As.

Setran Settefisk AS agreed to acquire Fish Hatchery Facility in Osen Municipality from SalMar ASA (OB:SALM)

Independent Director Linda Aase has left the company

Independent Director Tonje Foss has left the company

Chairman of the Board Atle Eide has left the company

Upcoming dividend of kr20.00 per share

First quarter 2021 earnings released: EPS kr6.33 (vs kr3.58 in 1Q 2020)

Full year 2020 earnings released: EPS kr17.52 (vs kr22.06 in FY 2019)

Revenue beats expectations

Full year 2020 earnings released: EPS kr17.52 (vs kr22.06 in FY 2019)

Salmar Strengthens Its Strategic Focus on Offshore Aquaculture and Appoints A New CFO of Strategy At Salmar Ocean

New 90-day high: kr595

New 90-day high: kr543

New 90-day low: kr464

SalMar ASA has completed a Follow-on Equity Offering in the amount of NOK 647.37456 million.

SalMar ASA to Report Fiscal Year 2020 Final Results on Apr 23, 2021

SalMar ASA to Report Q1, 2021 Results on May 12, 2021

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age