Marel hf. - Changes board/management/auditors

Linda Jonsdottir has been appointed as new CFO of Marel

Marel has appointed Linda Jonsdottir as Chief Financial Officer (CFO) with
immediate effect. Linda has been Marel‘s Corporate Director of Treasury and
Investor Relations since May 2009 and will as CFO become a member of Marel‘s
Executive Team. 

Erik Kaman, who has been CFO of Marel since 2008, will be available for
assistance and orderly handover until 1 March 2015. 

Arni Oddur Thordarson, CEO of Marel:
“I want to thank Erik Kaman for his important contribution to Marel in the past
years. I am delighted to announce the appointment of Linda Jonsdottir as new
CFO. Linda has shown great leadership talent in her previous management role
for Marel and I am convinced that she will strengthen our Executive Team and
play a key role in further aligning execution with our strategy.” 

Linda Jonsdottir is 36 years old and holds a M.Sc. degree in Finance and
Cand.Oecon degree in Business Administration. Before joining Marel, Linda
worked in Treasury and Financing for Eimskip, Burðarás and Straumur Investment
Bank and she has served as board member in the Enterprise Investment Fund
(Framtakssjóður Íslands) since 2010. 

Consequently, Audbjorg Olafsdottir will now become Corporate Director of
Investor Relations and Communications and Bjarki Bjornsson will become
Corporate Director of Treasury and Financing. 

Audbjorg Olafsdottir joined Marel last year as a Specialist in Investor
Relations. She holds an M.A. degree in International Economics and a B.A.
degree in Political Science.  Before joining Marel she worked at the European
Union Delegation to Iceland, Islandsbanki and as a journalist with Reuters and
the Icelandic Financial News (Viðskiptablaðið). 

Bjarki Bjornsson joined Marel in 2011 as Specialist in Treasury. He holds a
M.Sc. degree in Investment Management and a B.sc. degree in Business
Administration. Before joining Marel he worked for SP-Fjarmognun latest as a
Treasury manager.