News

Arni Magnusson hired to lead Iceland GeoSurvey (ÍSOR) in Iceland

Árni Magnússon
Alexander Richter 23 May 2020

Iceland GeoSurvey (ÍSOR) announces the appointment of Árni Magnússon as CEO effective July 1, 2020. He is taking over fro Ólafur G. Flovenz who has run ISOR since 2003.

In a release yesterday, it was announced that the Board of Directors of Iceland GeoSurvey (ÍSOR) has appointed Árni Magnússon as CEO of the company. He will take over the job on July 1, 2020 from Ólafur G. Flóvenz, who has led ISOR since its foundation and will now focus entirely on professional and scientific work.

The open position of CEO of ÍSOR was announced at the beginning of March and the deadline for applications expired on 30 March. The Advisory Competence Committee was assigned to assess the qualifications and qualifications of applicants.

It was then the unanimous conclusion of the board of ÍSOR that Árni Magnússon was the highest  qualified applicant.

“He has extensive experience in energy matters, both domestically and internationally. He is also an experienced manager and has extensive experience in both the public and private sectors. We therefore consider him the right person to lead ÍSOR to the future, ”says Thórdís Ingadóttir, Chairman of the ISOR Board.

Árni worked for the engineering firm Mannvit from 2013-2020, most recently as Managing Director of international markets and later as Managing Director of Mannvit in Hungary. He served as Managing Director of Renewable Energy at Íslandsbanki (Glitnir) from 2006-2013, where he established and managed the Bank’s international division in the field of renewable energy.

He was Minister of Social Affairs from 2003-2006 as well as being an Assistant Minister in the Ministry of Industry and Commerce and later in the Ministry of Foreign Affairs in 1995-2002.

Árni has served on the boards of a number of companies, companies and institutions, both domestically and abroad. Among others he was the Deputy Chairman of Iceland’s Renewable Energy Cluster (Iceland Geothermal), was on the board of the U.S. Geothermal Energy Association (GEA) and on the board of the American Council of Renewable Energy (ACORE).

He was also chairman of the board of the Icelandic Development Agency for many years, served on the board of the Ministry of Industry and Landsvirkjun’s Marketing Office and managed the government’s project on geothermal exploration in cold areas.

Árni has completed MIB studies in international business from the University of Bifröst and graduated from the Bifröst Cooperative School in 1983.

Árni Magnússon says in a conversation: “It is with genuine anticipation and satisfaction that I take the helm of the CEO of ÍSOR. The organization has both great knowledge and power, especially in the human resources it has to command. I am convinced that in the future there will be great opportunities, not least with the growing international focus on green energy, sustainability and social responsibility. I also hope that the experience I have gained in this area in the past 14 years, first at Íslandsbanki and later Mannvit, along with a master’s degree in international business, will be beneficial in my work for ÍSOR. ”

As ÍSOR’s Board of Directors welcomes Árni Magnússon to work, it thanks Ólafur G. Flóvenz for his successful work as CEO and his contribution to earth science. Ólafur has worked on geothermal research since 1979, first as an expert and head of the Department of Geosciences and later as Director of the Research Division of the National Energy Institute. At the foundation of ÍSOR in 2003, he was appointed CEO and has been in that position ever since. Under the solid and loyal control of Ólafur, geothermal research at ÍSOR has continued to evolve and ÍSOR is one of the most respected research institutes in the field of geothermal energy in the world today.

Source: Company release

Personal note: It is fantastic to see Árni Magnússon taking on this new position. Having worked with Árni first at Íslandsbanki and later through his work and Mannvit and beyond, I am very much looking forward for the continued cooperation.