Marel Appoints Sebastiaan Boelen to Serve as CFO Amid Executive Changes

Icelandic processing equipment manufacturer Marel has announced Sebastiaan Boelen as its new Chief Financial Officer effective Monday, succeeding Stacey Katz, who served the company for nearly a decade and is stepping down immediately.

This appointment is part of a series of senior executive changes at Marel in recent months. In January, Linda Jonsdottir resigned from her position as Chief Operating Officer, prompting the discontinuation of the COO role. Management of business functions and customer centers will now be redistributed among other members of the executive leadership.

In November, long-serving CEO Arni Oddur Thordarson abruptly resigned due to personal reasons, leading to the appointment of Arni Sigurdsson as the new CEO.

Additionally, Marel is currently evaluating a $3.9 billion unsolicited takeover bid from US-based John Bean Technologies Corporation (JBT). JBT announced its intention to merge the two companies in January, with the launch of the voluntary takeover offer expected in the second quarter, as stated in JBT’s recent financial results.

Boelen brings over 25 years of international CFO and financial expertise across diverse industries such as industrials, food and beverage, and technology. His most recent role was as Group Chief Financial Officer at UK-based utility company Southern Water. Previously, he held CFO and senior financial positions at Arrow Global, SPI Group, Black & Decker, and others.

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