Gudmundur Thoroddsson - CEO
Gudmundur Thoroddsson has worked in geothermal power since 1980, and has headed up Iceland's leading energy company, Reykjavik Energy (RE) as CEO. The company has led the way in world-class geothermal technology and has become a global leader in its field. Gudmundur has worked with various financial markets in the past in order to raise finance and RE received a Moody's rating of AA2 whilst with RE. When CEO of RE the company grew over four-fold and his Chairman-ship of Icelandic Drilling Company saw its yearly revenues increase from one billion to five billion Icelandic Crowns during his tenure. Gudmundur has a thorough understanding of the industry, following an esteemed career, and with an educational background in engineering and geothermal power. He firstly studied Engineering at University of Iceland, and then obtained a Masters in Mechanical Engineering at DtU in Copenhagen. He later completed an MBA at the University of Madison Wisconsin. His educational background coupled with this industry knowledge and expertise, has made Gudmundur a world-class leader in his field.
Gudmundur Thoroddsson was the first CEO of Reykjavik Energy and chairman of its New Power Generation Steering group between 1999 and 2008. During this period RE grew very rapidly with the service area increasing from 5 municipalities to 22. The services expanded from distributing solely heat and electricity to later include drinking water, sewage and a fiber optic network - RE also became the second largest electrical power producer in Iceland with 15% of total production with continued growth. All the power produced by RE is certified as 'green' by TÜV the German certification agency.