Fish processor Icelandic Group has hired Lárus Ásgeirsson as the new CEO of the company.

The company, which supplies the likes of UK retailers Tesco and Marks and Spencer, yesterday (5 October) named Ásgeirsson, the former CEO of insurance company Sjóvá Almennar insurance company, as its new chief executive.

In February, Icelandic Group's former chief executive and deputy chief executive and CFO tendered their resignations over disagreements about the sale of the company's French and German operations.

A new CFO, Johann Gunnar Johansson, was appointed during the summer and a spokesperson said no decision had been made about the vacant deputy chief executive role.

Ásgeirsson said it was "very exciting" to become Icelandic Group's CEO. "The company holds a very solid market position in the international seafood industry. I look forward to working with the executive team and staff of Icelandic Group to build on the strong foundations of the company," he said.

Herdís Fjeldsted, chairman of the board of Icelandic Group, said Ásgeirsson's "long and extensive" experience will help it move forward, streamline operations, lower its debts and increase profitability.