Norbye, who is to become Farstad’s chief commercial officer on 7 April, surprised the market by resigning as chief executive from Deep Sea Supply and stepping down just two days after the move was first announced to investors.

“We have decided to strengthen our management team,” Farstad chief executive Karl-Johan Bakken this week told Norwegian business daily Dagens Naeringsliv.

Bakken says he is pleased to have Norbye on his team because “he understands the sector and the actors well”.