New Mustad CEO Sets Deadline to Improve

WITH the well-documented changes at Norwegian hook-manufacturing giant Mustad in the last 12 months, the company used this year’s EFTTEX exhibition to reassure its global distribution chain that the firm is heading in the right direction.

Nils Agnar Brunborg, the new CEO of the company, spoke at a special gathering of Mustad’s partners and the press at the end of the first day of this year’s EFTTEX in Paris.

“We promise to our loyal customer base that we will be working very hard to restore Mustad to its former glory – the glory that its reputation deserves.

“It won’t happen overnight. It won’t happen next week, but we are on a mission to improve our distribution.”

Back at the start of 2011 Mustad was bought by Norwegian investment company NLI Utvikling, which specialises in revitalising companies that have hit a standstill or are having difficulties.

It is common knowledge that Mustad has been struggling with distribution and product availability over the last 18 months but the new hierarchy at the company has plans to turn everything around.

Nils outlined in his address that he has set the company, and the new team at the head of it, a 15-month timescale to get things back to the way they were.

“When we [NLI Utvikling] looked at Mustad we knew that it was a brand rich in history, heritage and tradition,” Nils added.

“We knew it would also be a tough job to help steer things in the right direction – but the turnout of people at this special event and the feedback I have received personally from this exhibition shows me that Mustad is much-loved. As an outsider to the industry, this touches me and I am determined to get our distribution standards up to the same level that the customers deserve.”

Atle HÅkonsen, Mustad’s newly appointed vice-president of sales and marketing, also spoke at the event: “I hope that with my experience in the fishing trade, combined with Nils and the other guys from NLI Utvikling’s experience in successfully turning businesses around, will help Mustad immensely.

“I have a been a big fan of Mustad products for my entire life and working with the company was too good an opportunity to turn down.”