Marel hf. - Company Announcement

Marel announces changes in Executive Team, organizational structure, and corporate identity

Today, Marel announces changes in its Executive Team, organizational structure,
and corporate identity. The changes will simplify and clarify the market
approach and position Marel for future growth and success. 

Marel is the leading global provider of advanced processing systems and
services to the poultry, meat and fish industries. Marel management is
redefining how it views and manages the business and serves the customer needs
and will from now on report sales and operational results in poultry, meat and
fish industries. Further Processing will operate as a business unit within
Marel that works across all aforementioned industries. Marel Poultry, Marel
Meat and Marel Fish will focus on standard solutions as well as full line
offering throughout the process from primary, secondary, and further
processing. 

Marel has a commercially strong product portfolio stemming from its continuous
focus on innovation and strategic acquisitions. Marel has enjoyed success and
growth in primary and secondary processing and will now seize to capture growth
in the further processing of poultry, meat and fish. This is in line with
Marel’s strategy of being full line provider and with its vision to partner
with customers to transform the way food is produced in a sustainable way.
Unity, Innovation and Excellence are Marel’s values.   Poultry, Meat and Fish
are united under common Marel brand, with one Marel logo, tag line and a
redefined vision and set of values. 

The following changes have been made to Marel’s Executive Team:

Meat: Remko Rosman, CEO of MPS meat processing system, which was acquired by
Marel in January, will join the Executive Team as the new Managing Director of
Marel Meat. Decisive steps will be taken in integration of the two companies to
strengthen the market approach and utilize full potentials of being full line
provider. A migration plan is in place to fully merge the branding of the two
companies under the Marel brand and logo. This will be finalized in January
2017. 

Further Processing: David Wilson, former Managing Director of Marel Meat will
lead Marel’s activities in further processing as Managing Director.  Marel
announced, with its full-year 2015 annual results, that operational results
were unacceptable in Further Processing and streamlining and step up in
investments in innovation were needed to strengthen the position in that part
of the value chain.   David Wilson has lead transformation of Marel meat in
recent years with good success and established Marel as key player in the
secondary processing of meat that will now be integrated with MPS, the global
leader in primary processing of meat.  Gerrit den Bok who has been in charge of
Marel’s Further Processing industry is leaving Marel. 

Commercial:Commercial function works across all industries and leads the
Regional Management, Service and Product management in Marel.  To simplify its
structure it has been decided to combine roles and responsibilities within
Commercial´s management.  Petur Gudjonsson will now lead Commercial and  
Sigsteinn P. Gretarson, EVP Commercial is leaving the company. 

Árni Oddur Þórðarson, CEO of Marel:

“Marel has enjoyed good growth and success in recent years. We live in a
dynamic world, where Marel is serving the basic consumption needs of the fast
growing population.  We are now streamlining the organization to serve better
our customers’ needs. 

I want to welcome Remko Rosman as the new Managing Director for Marel Meat and
a new member of our Executive Team. I have high expectations of his leadership
and experience which will undoubtedly benefit Marel. 

We are delighted that David Wilson has agreed to lead the changes in further
processing. David has a proven track record within Marel where he restored
profitability in the Meat organization and was instrumental in the acquisition
of MPS. There are significant growth opportunities in further processing and we
will continue to focus on innovation and further investments to be able to
harvest this opportunities, now under the leadership of David Wilson. 

Petur Gudjonsson, has lead great transformation from former Global Sales and
Service units into more industry focused approach around the globe.  Marel is a
global company with sales and service units in more than 30 countries and as
EVP Commercial he will lead Regional management, product management and
services. 

I want to thank Gerrit den Bok and Sigsteinn P. Gretarsson for their long
service and valuable contribution to Marel and wish them success in their
future endeavors”. 

Marel’s Annual General Meeting will be held today, March 2, where the
organizational changes will be presented in more detail.