Icelandic Group said it is “essential” its UK activities are strategically aligned and coordinated as one

Icelandic Group said it is “essential” its UK activities are strategically aligned and coordinated as one

Icelandic Group, the owner of The Saucy Fish Co., is merging the management teams within its UK operations in a move it claims would increase its competitiveness in the country.

The company said it is "essential" its UK activities are "strategically aligned and coordinated as one". The businesses include Seachill, Coldwater and Icelandic UK.

Malcolm Eley, soon to be CEO of the company's UK arm, said the move creates a platform for the business to scale to "an industry leadership position" in three to five years time. Currently, Young's Seafood is the largest seafood company in the UK.

Creating the new group, to be named IGUK, the firm said it will be able to invest in increasing consumer understanding and R&D and factory efficiency, and enable it access to quality raw material.

"We recognise the importance of the UK, not least because of its highly developed retail market and are keen to take an active part in our continued growth in this territory," said Magnus Bjarnason, CEO of Icelandic Group.

The move has led to a number of management changes including the appointment of Eley, previously MD of Seachill to the role of CEO of IGUK. In addition, Anita Barker has left her role as Coldwater MD and Icelandic MD Magni Thor Geirsson will be appointed MD of procurement and deputy for the combined business.

Seachill's sales and marketing director Simon Smith will see his role extended to cover the newly combined business.

Show the press release

 

Management structure change within Icelandic Group UK

 

Following a global strategic development review Icelandic Group has identified that it is essential that the UK activities are strategically aligned and coordinated as one. As a consequence, Icelandic Group has decided to combine the management of its three UK businesses, Seachill, Coldwater and Icelandic UK in order to better achieve these aims. The Grimsby based company has turnover of £300m, manufacturing operations will continue as 3 discreet business units.

Malcolm Eley will be CEO of IGUK, (previously Managing Director, Seachill) supported by the existing leadership teams. Fuelled by an investment strategy, the 1500 jobs in the region are said to be unaffected by the changes. The move creates the platform for the UK business to scale to an industry leadership position in 3-5 years time. Anita Barker will leave the business following a handover period and continues to advise the CEO of Icelandic Group and management.  Magni Thor Geirsson will be Managing Director Procurement and Deputy for the combined business.

Simon Smith will be Sales & Marketing Director for the combined business.

Sarah Blake will become Commercial Director for M&S.

With 20% market share, IGUK is already a major player in the industry as primary and secondary processor of fresh and chilled seafood including wet, coated, ready to cook, ready to eat and ready meals and frozen fish. The businesses combined, supply all the major UK retailers.

With many parts of the industry currently suffering trading volatility, the opportunity being provided by the Icelandic Group scale is continued stability and greater access to fish resources for UK customers. The management reorganisation will enable IGUK to build on its solid foundations and will be in a position to invest further to benefit its customers. Increased consumer understanding, access to quality raw material via Icelandic Group Global, R&D and factory efficiency are areas of focus.

Speaking about the changes, Magnus Bjarnason, President & CEO of Icelandic Group said: “We recognise the importance of the UK, not least because of its highly developed retail market and are keen to take an active part in our continued growth in this territory. I’d like to thank Anita Barker for her hard work and tenacity in developing the Coldwater business over the past few years; she has been a valuable member of the IGUK team in developing the new strategy.”

The UK group has a strong heritage in the fish industry with Icelandic Group recently celebrating its 70th anniversary.

 

Original source: Icelandic Group