Festi — Board/Management Information 2022

Jun 17, 2022

Statement from the Board of Directors of Festi hf.

Statement from the Board of Directors of Festi hf.

*Shareholders’ meeting called on 14 July*

The Board of Directors of Festi has called a shareholders’ meeting due to viewpoints raised in relation to the dismissal of the Company’s Chief Executive Officer which was announced on the 2nd of June 2022. The Board is not beyond reproach but firmly believes, looking to the future, that its decision to appoint a new Chief Executive Officer is a correct and important step in the Company’s development.

The growth and prosperity of Festi far exceeds the importance of any one member of its management team or Board of Directors. It is the Board’s wish that the upcoming shareholders’ meeting will act to reconcile any differences that may exist, forging a path forward and placing the focus back where it belongs, on the Company’s future development of which the appointment of a new CEO is an integral part.

Festi is a large and important company in Icelandic society, and the local consumer and corporate market, a role that carries varied responsibilities towards employees and customers. The Company is fortunate to boast a highly capable group of employees that remain excited about the Company’s future prospects. The Board of Directors and shareholders share a great joint responsibility in securing peaceful working conditions, conducive to the Company´s progress and growth.  

Kópavogur, 16th of June 2022

The Board of Directors of Festi hf.