Former CEO returns to lead Icelandic pipe manufacturer

Former chief executive Bergsteinn Einarsson has returned to lead Sets hf., a plastic pipe manufacturer in Selfoss, mbl.is reports.

Einarsson managed the company for many years before stepping down two years ago ahead of a change in ownership. The ownership transfer was completed this summer, when the descendants of founder Einar Elíasson sold the company to investors Orri Hauksson and Gunnar Fjalar Helgason.

The new owners have now appointed Einarsson as chief executive. Reynir Guðmundsson has also returned to his previous role as chief financial officer.

“We, the new owners of Set, believe that the company has extensive knowledge and capability in the production of infrastructure. The company’s future is bright if it is managed correctly,” Orri Hauksson, the company’s chairman, told Morgunblaðið.

Hauksson said there had recently been considerable disruption around and within the company, including rapid turnover in its management. The new owners wanted to strengthen its experience in the industrial sector in which Set operates and had therefore approached the former chief executive, who led the company for decades.