Festi hf.

Ásta S. Fjeldsted hired as CEO

The board of Festi hf. has hired Ásta S. Fjeldsted as the company's CEO. She will start as of today. For the time being, she will also hold the position of Executive Director of the Crown. Magnus Kr. Ingason will step down as CEO and continue to work as CFO.

Ásta Sigríður has been the executive director of Krónan since 2020. Before that, she was the executive director of the Icelandic Chamber of Commerce from 2017. Until then, Ásta Sigríður worked for three international companies for more than a decade: For the consulting company McKinsey & Company since 2012, both at its offices in Tokyo and Copenhagen, where she participated in or led a number of small and large analysis and transformation projects. Previously, she worked at IBM in Denmark and for the prosthetics manufacturer Össuri hf., both in France and Iceland. Ásta Sigríður is a mechanical engineer with an M.Sc. degree from DTU, the Technical University of Denmark.

Guðjón Reynisson, Festi's board chairman: "It will strengthen the company much to have secured the talent of Ásta S. Fjeldsted to lead the strong team that works at the company and shape its future strategy with us. There are exciting times ahead and great offensive opportunities. Ásta has experience in operations in the retail sector after her years at Krónan, but also international experience in policy formulation and strategic projects for large companies in other sectors. We are proud to have such a strong woman to lead the company."

Ásta S. Fjeldsted, Festi's CEO: "At the top of my mind is gratitude for the trust, but Festi together with the companies within its group (N1 ehf., ELKO ehf., Krónan ehf., Festi tøjntir ehf., Bakkinn väruhótel ehf. and N1 Rafmagn ehf. ) operates in extremely exciting and dynamic markets, which have a real impact on lives of the people of Iceland. Our responsibility is therefore great, and it is clear that the company's journey must be in constant development. It is a privilege to be able to continue working with all the powerful people who work within Festi and the company´s within its group."