Generational transition in the ownership of Samherji

Generational transition in the ownership of Samherji

The largest shareholders of Samherji, Ms Helga Steinunn Guðmundsdóttir, Mr Thorsteinn Már Baldvinsson, Mr Kristján Vilhelmsson and Ms Kolbrún Ingólfsdóttir, have transferred their shares in Samherji to their children. Their combined ownership consisted of 86.5% of the shares in Samherji, but they will control a 2.0% stake in the company after the changes.

After the transfer of shares, the largest shareholders in Samherji will be Mr Baldvin Thorsteinsson and Ms Katla Thorsteinsdóttir, who will hold a combined 43.0% stake and Ms Dagný Linda Kristjánsdóttir, Mr Halldór Örn Kristjánsson, Mr Kristján Bjarni Kristjánsson, and Ms Katrín Kristjánsdóttir, with a combined 41% stake.

Preparations for these changes in ownership have been in progress for the past two years, but the plans were formally announced to Samherji's board of directors in mid-2019. By transferring shares to their children, the founders of Samherji want to maintain the essential family relationships that the company was built on and have been the cornerstone of its operations.

Thorsteinn Már Baldvinsson, the CEO, and Kristján Vilhelmsson, the managing director of ship operations, will continue to work for Samherji and remain in their positions.  

Samherji's operations are divided between the affiliated companies Samherji and Samherji Holding. In principle, domestic operations are part of Samherji, but foreign operations belong to Samherji Holding. The above changes in ownership only concern the shares in Samherji, and there has been no change in the ownership of Samherji Holding.

"We are fully committed to participating in Samherji's ongoing operations. The company has a bright future and has grown and prospered despite various difficulties. Our staff has shown the owners and the company unparalleled loyalty for decades and laid the foundation for the stability that is a key element of the business. Now we have a new generation joining us. We have the opportunity to further evolve our value added processing, provide work and job security and strengthen the important values ​​of sustainability and responsible use of resources that have been Samherji's strategy from the beginning," said Thorsteinn Már Baldvinsson and Kristján Vilhelmsson.