Navico, parent of Lowrance, Simrad, B&G and C-Map, has appointed Knut Frostad president and chief executive officer. He replaces Leif Ottosson.
“We thank Leif Ottosson for leading ten years of transformation and growth in Navico,” Hugo Maurstad, chairman of the board of Navico, said in a statement. “Under his management, revenues have doubled and we have seen a manyfold increase in earnings as well as significant improvements to our supply chain and R&D programs.”
Frostad has been on Navico’s board for 14 years. He is a former CEO of the Volvo Ocean Race and is also a director and advisor to several international companies.
“We have an exceptional team at Navico focused on transforming the business, continuing to innovate and unlocking future growth opportunities,” said Frostad in the statement. “With my passion for boating and water, this is truly and exciting opportunity.”
Frostad is also a former professional offshore and Olympic sailor who has competed in four editions of the Volvo Ocean Race as a helmsman, watch leader and skipper. He has also been recognized for helping the race achieve global awareness through a comprehensive digital media platform, including onboard reporters and a race control center.