Fjords resignation

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 NOK 53million against a total turnover of NOK 383million. 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, comments: “I want to thank Rolf Sandvik for all his hard work during the demanding start-up phase of The Fjords. 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 board of The Fjords will now initiate a recruitment process to find its next CEO.

By Jake Frith