Festi hf. announced the resignation of Eggert Þór Kristófersson as CEO effective from the end July. An agreement has been reached about his retirement as CEO.

Festi hf. currently operates N1, Krónan, Elko, Bakkinn and the real estate company Festi. The company is at a crossroad after extensive development in recent years and the CEO believes that at this juncture it is desirable to look for a new individual to lead its operations.

The Board and the CEO have had a successful collaboration in recent years through a major development phase. The company's sustained good operating results are a clear sign of this. All subsidiaries are leaders in their respective markets and have received numerous recognitions in recent years.