Marel: Introducing Focus First operating model and organizational changes

To position Marel for future growth and ensure long-term profitability. Marel is refining its operating model enabling customer-centricity, enhancing end-to-end accountability and ensuring cross-business collaboration.

Focus First operating model

Marel is introducing a refined operating model: Focus First. The operating model has seven business divisions, global functions and customer centers. The seven divisions are: Poultry, Meat, Fish, Retail and Food Service Solutions (RFS), Service, Software Solutions and Plant, Pet and Feed. Functions provide enabling capabilities and expertise to the divisions. ‘Customer Centers’ is the new name for the Regions, further building upon the foundation of global reach and local presence that has been built over the last few years. The Customer Centers focus on bringing sales and service efforts together for our customers, creating a truly customer centric experience.

For external reporting, Marel will continue to use the four business segments of Poultry, Meat, Fish, in addition to Pet, Plant and Feed.

Marel’s Executive Board

In line with the Focus First operating model, Marel is formalizing an Executive Board that consists of six members to ensure focus, speed and scale:

Chief Executive Officer (CEO): Arni Oddur Thordarson
Chief Business Officer and Deputy CEO (CBO and Deputy CEO): Arni Sigurdsson, responsible for the Business Divisions, Service and Business Development
Chief Operating Officer (COO): Linda Jonsdottir, responsible for Customer Centers, Innovation, Supply Chain, Marketing, Sales Excellence and Operational Excellence
Chief Financial Officer (CFO): Stacey Katz, responsible for Finance, IT, Global Business Services and Investor Relations
Chief Human Resource Officer (CHRO): David Freyr Oddsson, responsible for People & Culture
Chief Strategy Officer (CSO): Vacancy, responsible for strategy

Marel’s senior leadership

David Wilson, EVP of Marel Meat, is stepping down and will be leaving Marel. David has been with Marel since 1998 and a member of Marel’s Executive Team since 2013. Marel would like to sincerely thank David for his valuable contribution, committment and loyalty over his 24-year career at the company and wish him every success in his future endeavors. Roger Claessen, EVP of Marel Poultry, will step in as interim EVP of Marel Meat until a new appointment is announced. Two seasoned leaders within the Marel Poultry organization, Dirk den Hartog, Service Director, and Arie Tulp, Sales & Marketing Director are stepping up to co-lead Marel Poultry during the interim period.Other current executives continue as part of Marel’s senior leadership working in unity towards our 2026 growth targets.

About Marel

Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat and fish industries. In line with its 2017- 2026 growth strategy, Marel has gradually expanded its business model into adjacent industries, where most recently the acquisition of Wenger has added a fourth pillar focused on pet food, plant-based protein and aqua feed. Our united team of over 7,000 employees in over 6 continents delivered EUR 1.4 billion in revenues in 2021. Annually, Marel invests around 6% of revenues in innovation. By continuously transforming food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019. For further information, please visit marel.com/ir.

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