Rapp Marine appoints new Group CEO

Helge Vatnehol Helge Vatnehol

JUNE 18, 2014 — Helge Vatnehol has been appointed Group CEO of Bodø, Norway, headquartered Rapp Marine, effective September 1, 2014

Mr. Vatnehol comes to Rapp Marine from Rolls-Royce, where he has been serving as Senior Vice President Offshore Deck Machinery and managing director and board member of its Norwegian unit, Rolls-Royce Marine AS.

"We are delighted that Helge Vatnehol has accepted the challenge of leading the group," says Board Chairman of Rapp Marine, Olav Fjell.

Mr. Fjell is a partner in Nord Kapitalforvaltning (NK), a private equity company and manager of the Nord II fund, which acquired Rapp Marine Group in December 2012.

Mr.Vatnehol holds a Sivilingeniør (MSc) degree from NTNU, the Norwegian University of Technology and Science, and has held senior leadership positions in Engineering, IT & Process Development, Strategy & Business Development as well as Operational Management both in Rolls-Royce and before that in the Ulstein Group.

"Rapp Marine is going through a period of restructuring to bolster our competitiveness. Our ambition is to grow from Bodø," says Mr. Fjell. "Helge Vatnehol has the perfect background to spearhead this process."

Rapp Marine Group split into two divisions — Fireproof Doors and Winches — in spring 2014. Firms in the Winch division are now collectively under Rapp Marine Group, centered in Bodø. The group comprises Rapp Hydema AS (Bodø), Rapp Hydema US (Seattle), Rapp Zastava (Serbia/Kragujevac), Rapp Statech (Lyngdal), Rapp Hydema Syd (Fredrikstad) and Rapp Ecosse (Scotland), in addition to the parent company, Rapp Marine AS (Bodø). Rapp Marine Group sells, manufactures and develops winches and cranes for the fishing industry and research vessels as well as for the offshore market.