To our shareholders

Executive Team

In November 2013 Marel's executive team was expanded and strengthened with several experienced and highly qualified Marel Managing Directors.

These changes will further align execution with strategy and enable Marel to reach its long term goals.

All of Marel's key industries and operations are now represented in the executive team sharpening the market and innovative-driven focus of the company.

Arni Oddur Thordarson CEO

Arni Oddur Thordarson (44) is Marel's CEO. He has extensive international business experience within the industrial sector. Before taking up his current position as Marel´s CEO in November 2013 he was the CEO of Eyrir Invest, which he co-founded in the year 2000.

Thordarson served on the Board of Directors of Marel since 2005, majority of the time as a Chairman. Thordarson serves as non-executive director in Fokker Technologies.

Education:
MBA, IMD, Switzerland, 2004; Cand. Oecon. in Business Administration, University of Iceland, 1993.

Holdings in Marel by Thordarson, Eyrir Invest hf. and financially related parties:
215,498,707

Sigsteinn Gretarsson, COO

Sigsteinn Gretarsson (47) is Marel's Chief Operating Officer. He joined Marel in 1997 as Sales Manager and Consultant in sales and marketing. In 2001 he moved to Brisbane, Australia, where he served as Managing Director of Marel's Australian subsidiary until 2005.

He then worked on mergers and investment projects before being appointed Managing Director of Marel ehf. in June 2007. Gretarsson was appointed the Chief Operating Officer of Marel in October 2011.

Education:
B.Sc. degree in Mechanical Engineering from Bradley University, Illinois, 1990, and a M.Sc. degree in Mechanical Engineering from the University of Illinois at Urbana-Champaign, 1992. Sigsteinn has completed Executive Education Business Programs at Insead and Reykjavik University.

Holdings in Marel, including those of financially related parties:
25,997

Erik Kaman, CFO

Erik Kaman (57) is the CFO of Marel. He has been with Marel and its predecessors since 1992. Before taking up his current post in May 2008, he was the Finance Director of Stork Aerospace Industries.

Prior to that, he was Director of Corporate Strategy and Control at Stork NV.

Education:
M.Sc in Applied Physics from Technical University of Delft in the Netherlands.

Holdings in Marel, including those of financially related parties:
1,675,000

Gerrit den Bok

Gerrit den Bok (51) is the Managing Director of Marel's Further Processing Industry Center. He has been with Marel and its predecessors since 1989. Before taking up his current position in 2013 he was responsible for Marel Stork Poultry service globally.

Previous positions within the company include food technologist in the service department of Stork PMT and a coach of the Technology department.

Education:
B.Sc degree in Food Technology from HAS University

Holdings in Marel, including those of financially related parties:
0

Petur Gudjonsson

Petur Gudjonsson (55) is the Managing Director of Marel's Global Sales and Service Network. He joined Marel in 1984 as a programmer in electronic design.

Before taking up his current post in 2009 he served in numerous different positions for Marel, including General Manager for Marel in Canada and Sales Director for Marel Iceland and Denmark.

Education:
B.Sc Degree in Electrical Engineering from the University of Iceland

Holdings in Marel, including those of financially related parties:
114,430

Jon Birgir Gunnarsson

Jon Birgir Gunnarsson (42) is the Managing Director of Marel's Fish Industry Center. He has been with Marel since 1996 and has served in various different positions within the company before taking up his current post in January 2012 including senior business manager and sales and business development director.

Education:
MBA degree from the University of Iceland, Diploma in Technical Engineering from Reykjavík University

Holdings in Marel, including those of financially related parties:
10,000

David Freyr Oddsson

David Freyr Oddsson (39) is Marel's Corporate Director of Human Resources. He joined Marel in 2011 as HR Director in the International Sales and Service Network. He took up his current post in 2013.

Before joining Marel, he worked at Straumur Investment Bank as Global Head of Human Resources and Corporate Services 2006-2011 and as a HR Consultant at Capacent 1999-2006.

Education:
MBA degree from Reykjavik University, Cand. Theologius from University of Iceland.

Holdings in Marel, including those of financially related parties:
0

Paul van Warmerdam

Paul van Warmerdam (43) is the Head of Marel's Global Supply Chain. He joined Marel as Director of Manufacturing and Materials Management Industry Center Poultry and was appointed to his current position in 2013.

Before joining Marel, he worked in the semiconductor industry in various operations and business management roles.

Education:
M.Sc degree in Mechanical Engineering at Delft University of Technology in the Netherlands

Holdings in Marel, including those of financially related parties:
0

Anton de Weerd

Anton de Weerd (55) is the Managing Director of Marel's Poultry Industry Center. He has been with Marel and its predecessors since 1982 and has during that time served in many different positions including sales engineer, area sales manager, regional sales manager, general sales manager, commercial director, managing director and president. He took up his current post in 2007.

Education:
M.Sc degree in Mechanical Engineering from Avans University

Holdings in Marel, including those of financially related parties:
0

David Wilson

David Wilson (42) is the Managing Director of Marel's Meat Industry Center. He has been with Marel and its predecessors since 1998. Before taking up his current position in March 2012 he served as senior vice president for Marel´s Poultry Industry Center in Gainesville, USA.

Education:
M.Sc degree in Animal Science and a B.Sc Honors degree in Agricultural Business Management from Aberdeen University.

Holdings in Marel, including those of financially related parties:
0