Ulstein CEO to take the helm at Vard

Norwegian ship designer and shipbuilder Vard, part of Fincantieri, has appointed the current chief executive officer (CEO) of compatriot shipbuilder and designer Ulstein Group as its new CEO.

Cathrine Kristiseter Marti, who will take over as the new CEO of Vard starting June 1, 2024, comes from the position of CEO of Ulstein Group and has industry experience from 25 years within maritime-related industries.

According to Vard, the appointment of the new CEO is part of a long-term strategy to strengthen the company as the leading player in offshore and specialized vessels and a key business pillar within the Fincantieri Group.

“I am honored and proud to take over the responsibility as CEO and I am confident, that together with the competent and engaged colleagues in VARD, we will continue to grow as a trusted player in the shipbuilding industry and create long term value for the shareholder,” said Marti.

Alberto Maestrini, appointed in 2020 as the company’s CEO, will remain in his position as Chairman of the Board and will continue to lead the Offshore and Special Vessels business in Fincantieri and through this continue to support Vard’s integration into the Fincantieri Group.

“After some difficult years, Vard Group has finally reached a sound business position. Now, I am very happy to give the helm to Cathrine for the next phase of the journey, which I am sure will bring an even brighter future to VARD and Fincantieri,” said Maestrini.

Speaking about other news that came from Vard this year, it is worth mentioning that in January the Norwegian company revealed it had received an order from Denmark-based power cable manufacturer and installation company NKT for the construction of its new cable-laying vessel (CLV).

A month prior, Vard won a contract worth over $200 million to deliver a highly customized hybrid power cable lay and construction vessel to a Japanese construction company.