Looking to oversee the company’s development from a broader perspective, KAPP founder and CEO Freyr Friðriksson is stepping aside to the role of chairman, while Ólafur Karl Sigurðarson moves into the CEO’s position.
This change of leadership roles follows a sustained period of growth for KAPP. Recent acquisitions include KAMI Tech Inc. in Seattle, enabling US-based manufacturing, and the acquisition of all assets and patents from the bankruptcy of Skaginn 3X, significantly strengthening KAPP’s high technology capabilities.
Freyr Friðriksson and his wife Elfa Hrönn Valdimarsdóttir established KAPP 27 years ago, since when it has evolved from a startup into an international provider of refrigeration systems, equipment manufacturing, and services for the seafood industry, aquaculture, poultry production, and other industrial sectors.
‘This is not a departure,’ said Freyr Friðriksson.
‘Ólafur Karl is ready to lead KAPP forward, and I have complete confidence in his ability to build on our momentum. His experience positions KAPP well for continued growth, both domestically and internationally.’
Ólafur Karl Sigurðarson has an extensive background in this sector, including a nine-year spell at Marel.
‘We are coming off an exceptional year marked by major investments and operational improvements. Integrating multiple companies under the KAPP brand while maintaining stability within each operating unit is a significant undertaking, and our team has executed this transition with great professionalism,’ said incoming CEO Ólafur Karl Sigurðarson.
‘The year ahead will focus on building on this strong foundation, deepening customer relationships, optimising our expanded operations, and continuing our growth trajectory.’
