Landsvirkjun’s Board is appointed by the Minister of Finance, at the company’s Annual General Meeting, held before the end of April each year. The Board is responsible for Landsvirkjun’s finances and operations. 

The CEO of Landsvirkjun is Hörður Arnarson, who in collaboration with the Board is responsible for the day to day administration of the company. Landsvirkjun’s Board of Directors sets out its procedural regulations in accordance with the provisions of Article 7 of the Act on Landsvirkjun. 

The current Board of Directors were appointed at the company’s Annual General Meeting April 14 2025.

The Board of Directors appoints the CEO, and the Board and the CEO are responsible for the management of the company. The Deputy CEO handles the company’s collective matters and policy development, as well as ensuring good governance.

We have established a formal risk management process to highlight the most significant factors in our operation. Managers and staff there identify the company's financial and non-financial risks and assess their importance.

Landsvirkjun was founded on 1 July 1965 by the state of Iceland and the city of Reykjavik. It is the National Power Company of Iceland and operates 17 power plants in Iceland concentrated on five main areas of operation.

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