Chairman of the board

Asthildur Margret Otharsdottir

Asthildur Margret Otharsdottir is an independent consultant and board member. She has extensive prior business experience as a Director of Treasury and Corporate Development at Össur hf. from 2006 to 2010, Senior Account Manager at Kaupthing Bank, now Arion Bank, from 2004 to 2006, and Consultant at Accenture from 1996 to 2000. She is a member of the Board of Directors of Icelandair Group and Marorka and Chairman of the Board of Frumtak II investment fund. Otharsdottir is on the board of the Research Center for Business Ethics at the University of Iceland and the Court of Arbitration of the Icelandic Chamber of Commerce.

Education

MBA, Rotterdam School of Management, The Netherlands, 1996; Cand. Oecon., University of Iceland, 1992.

Elected

2010, chairman of the board since November 2013

Holdings in Marel

32,000
BOARD MEMBER

Olafur S. Gudmundsson

Dr. Olafur S. Gudmundsson is currently Director of Pharmaceutics at the Bristol-Myers Squibb Company, a global biopharma company. He has previously held various senior level management positions within R&D in the pharmaceutical industry, both for Bristol-Myers Squibb and Genentech Inc. He is also associated with the Pharmaceutical Chemistry department at Purdue University.

Education

Ph.D. in Pharmaceutical Chemistry, University of Kansas, 1998; Cand. Pharm. in Pharmacy, University of Iceland 1994.

Elected

2014

Holdings in Marel

1,705,427
Board Member

Margret Jonsdottir

Margret Jonsdottir is Managing Director of Operations of Eyrir Invest hf. Previously, she was Director of Finance at Edda Publishing from December 2001 until October 2002. She was Director of Finance at Kreditkort/MasterCard from August 2000 until December 2001, Manager of Accounts at FBA Investment Bank (now Islandsbanki) from January 1998 until June 2000, and Director of Finance at the Industrial Loan Fund (FBA Investment Bank predecessor) from September 1988 until January 1998.

Education

Master of Accounting and Auditing, University of Iceland, 2006; Cand. Oecon. in Business Administration, University of Iceland, 1983.

Elected

2006

Holdings in Marel

193,184
Board Member

Ann Elizabeth Savage

Since 2004, Ann Savage has been the Group Technical Director of Bakkavor Group and she serves as a member of the management board. She is mainly responsible for food safety, health and safety management, manufacturing excellence and environmental management at Bakkavor. Ann has held a variety of roles during her career, spanning over 30 years in technical and research and development departments within the retail and food industry, more specifically for Cooperative Wholesale Society (CWS), Northern Foods (1990-1999) and Geest (1999-2004).

Education

Studied at the Open University. Post Graduate Diploma in Management Studies, Nottingham University.

Elected

2013

Holdings in Marel

0
BOARD MEMBER

Astvaldur Johannsson

Astvaldur Johannsson has extensive International experience holding various senior management positions for Ossur hf., the global orthopedics company and as an Executive Director of International Division of Valitor hf., an e-commerce payment solutions- and services provider. Prior to that, he served as a member of the executive Team of the IT company Nyherji hf., as a Managing Director at Penninn, a retail chain organization and as System Analyst Expert within the IT sector focusing on process design and development.

Education

MBA, University of Iceland 2002, B.Sc. in Management Information Systems, Heriot-Watt University Scotland 1987.

Elected

2014

Holdings in Marel

0
Board Member

Helgi Magnusson

Helgi Magnusson is the Chairman of the boards of Blue Lagoon, Harpa Holding, and Husasmidjan. He is the Vice-Chairman of the Board of the Pension Fund of Commerce and also serves as board member of several other Icelandic companies, including N1 and Hofgardar. He served as a member of the Board of Directors and the Executive Board of the Confederation of Icelandic Employers from 2006 to 2013 and as Chairman of the Federation of Icelandic Industries from 2006 to 2012. Helgi has also been a board member of Islandsbanki hf, Framsyn Pension Fund and the Icelandic Chamber of Commerce. For several years, he was the Chairman of the Board of Harpa Sjofn Paint Factory and Flugger Iceland Paint Factory.

Education

Business Administration, University of Iceland, 1974; CPA, 1975.

Elected

2005

Holdings in Marel

4,305,044
Vice-Chairman of Board

Arnar Thor Masson

Arnar Thor Masson has extensive experience in reorganization, strategy and project management. He is currently Director General of the Department of Administrative Development at the Prime Minister’s Office in Iceland and also serves as the Chairman of Marel’s audit committee. His previous roles include Deputy Director General of the Financial Management Department at the Ministry of Finance. Arnar Thor was an adjunct lecturer at the Department of Political Science of the University of Iceland from 2000 until 2008.

Education

M.Sc. in Comparative Politics, the London School of Economics and Political Science, 1997; B.A. in Political Science, University of Iceland, 1996. Studied securities brokerage in 2007.

Elected

2001. Vice-Chairman since November 2013.

Holdings in Marel

0
*All holdings at December 31, 2015