Mikael Thinghuus leaves a Royal Greenland in excellent shape
After 11 years as CEO of Royal Greenland, Mikael Thinghuus has agreed with the company's Board of Directors that he will step down from his position in the summer of 2022.
Thinghuus took up the position at the turn of 2010/2011 at a time when Royal Greenland was in a deep crisis both financially and strategically. Since then, the company has undergone a transformation - financially, commercially and strategically.
Over the period, large deficits have turned into solid profits.
More than half of the activities Royal Greenland operated in 2011 have been divested. The proceeds from the divestments have been used to repay the half billion DKK the company received from its owner, the Greenlandic Government, during the 2010 crisis, and - perhaps more importantly - to invest in brand new operations in Newfoundland and Labrador, Nova Scotia, Chile and Norway.
The divestments and investments have formed the core of the strategic vision outlined in The North Atlantic Champion, which has been the lodestar for Royal Greenland for almost 10 years. This has been supported over the period by significant investments in markets in Asia and, more recently, North America.
Today, Royal Greenland is therefore a very well consolidated company in terms of fish stocks, production and sales.
At the entrance of 2022, Royal Greenland stands incredibly strong despite Covid-19 (and most recently a cyber attack):
- 2021 will performance-wise by a wide margin be the company's best year ever.
- The budget for 2022 is very promising.
- The North Atlantic Champion is now available in version 4.
- The company now employs almost twice as many people in Greenland as it did ten years ago - and the main employment issue today is labour shortages, not job shortages.
- Royal Greenland's employee satisfaction has further improved in 2021 from an already very high level.
Mikael Thinghuus, who will turn 60 in June 2022, has, after careful consideration, concluded that it is both in his own and Royal Greenland’s best interests to find fresh talent for his position.
"My time at Royal Greenland is one of the highlights of my life," Thinghuus says. "I have to a very high degree enjoyed working in the service of a greater cause; because producing healthy food of the highest quality is so meaningful; because Royal Greenland is so vital to the Greenlandic society and self-government, and because Royal Greenland, both in and outside Greenland, is a leading company in our industry in terms of both biological and social sustainability."
"I have very much appreciated the cooperation with my colleagues on the Executive Board and the other employees of the company - and of course the partnership with my Chairman during all 11 years," Thinghuus continues. "I am proud of the work we have done and of what we have created. Today, Royal Greenland is a very robust company that knows where it is going - so I am very confident about the company's future."
Company Chairman Niels de Coninck-Smith says:
"When we hired Mikael almost 12 years ago, I said we had made a scoop. Mikael and I have certainly had our business discussions along the way, but I would like to stand 100% by my original assessment: Mikael has been a scoop for Royal Greenland, and we will miss him very much. The company today is very different from what it was then - much stronger and in much better shape."
The Chairman continues, "We have now launched a broad and professional search for a successor. It will probably take some time, but the agreement we have reached with Mikael Thinghuus gives us good flexibility in terms of executing this search, as he will assist Royal Greenland for a relatively long period."
For more information:
Masaana Egede, Communications Manager: Tel. +299 547785 – Mail: maeg@royalgreenland.com
Niels de Coninck-Smith, Chairman of the Board. Mail: niels@conincksmith.com
Maliina Abelsen, Vice-Chairman of the Board. Mail: mabelsen@gmail.com
