The Fjords CEO Steps Down
Rolf A. Sandvik is leaving his position as CEO of The Fjords. Sandvik, who has led the company since its formation in January 2015, has informed the board of his intention to step down. Vidar Hauståker, the Chief Financial Officer of The Fjords and Flåm AS, will act as interim general manager until a permanent replacement is recruited.
The Fjords has delivered a strong performance since its launch, in addition to launching a new breed of environmentally friendly, passenger focused and multi-award winning vessels. The company’s first three operating years (2015-2017) generated a combined profit before tax of $6.2m million against a total turnover of $44.8 million.
However, in 2018, the company faced challenges in sales, operations and profitability, partly as a result of price competition from traditional tourist vessels, while moving into new operational areas proved more challenging than anticipated.
Speaking about Sandvik’s departure, Sverre Tysland, Chairman of the Board, The Fjords, said: “With Rolf at the helm, the company has taken delivery of two epoch-making and award winning electric sightseeing vessels built in carbon, Vision of the Fjords and Future of the Fjords. The third vessel in the same series, Legacy of the Fjords, is now under construction. The company has also created and launched the new ‘Powerdock’, a revolutionary floating charging terminal with a battery bank, storage space and waste reception system. Altogether, this represents investments of almost $46.8 million.
The board of The Fjords will now initiate a recruitment process to find its next CEO.