Board of Directors

Our Board of Directors is appointed annually and has ultimate authority with regard to all Company decisions. The appointment of the Board must comply with statutory requirements on impartiality and non-discrimination. Directors must therefore be independent of the Company, shareholders or other companies engaged in the generation, distribution or sale of electricity.

The current Board of Directors consists of the following members: Sigrún Björk Jakobsdóttir, Hotel Manager at Icelandair Hotel Akureyri, Ómar Benediktsson, Managing Director/CEO of Farice and Svana Helen Björnsdóttir, Managing Director of Stika. Reserve members include Svava Bjarnadóttir, Executive Vice President and owner of Kapituli and Jóhannes Sigurðsson, Supreme Court Attorney who was appointed as a reserve member of the Board in December 2016, in order to comply with the Gender Compensation Act on Corporate Governance.
  • Sigrún Björk Jakobsdóttir

    Chairman of the Board

    Sigrún Björk Jakobsdóttir was appointed Chairman of the Board at the Annual General Meeting on the 7th of April, 2016. She has served on the Boards of various companies, organisations, institutions and committees and has extensive experience in the field of tourism and local government.
  • Ómar Benediktsson

    Board member

    Ómar Benediktsson was first appointed to Landsnet’s Board on the 29th of March, 2012. He has served on the boards of numerous companies, both domestic and foreign, as well as other organisations. He also has extensive experience in business operations, both at home and abroad.
  • Svana Helen Björnsdóttir

    Board member

    Svana was first appointed to Landsnet’s Board on the 31st of March, 2009. Svana has served on the boards of numerous companies and organisations and has extensive experience in company operations, both in Iceland and abroad.

Landsnet’s Executive Board

Landsnet’s Executive Board is responsible for the daily operations of the Company. The Executive Board appoints the CEO and the various directors of each division.
  • Guðmundur Ingi Ásmundsson


    Guðmundur Ingi Ásmundsson is the CEO of Landsnet. He completed a degree in electrical engineering in 1980 from the University of Iceland and a Master's degree in Electrical Engineering from the Technical University of Denmark (DTU) in 1982. Guðmundur Ingi has worked at Landsvirkjun for 23 years, initially joining the Company as an engineer. He went on to become chief engineer and Managing Director of the Systems Department in 1993. He served as Landsnet’s System Manager from the 1st of January 2005 when the Company was founded and became VP of System Operations in November 2005. He went on to become Deputy CEO in January 2008 and President and CEO from January 2015.
  • Guðlaug Sigurðardóttir, CFO

    Finance Division

    The Finance Division is responsible for Landsnet’s finances, accounting, treasury management, procurement, business intelligence, revenue cap compliance, budgeting, financial modelling and risk management. The Finance division includes an Analysis Unit that supports revenue and tariff analysis, the reliability of forecast models, the Company’s asset management, and financial assessment of investment and operational decisions. The division is also responsible for asset supervision and specific staff facilities.
  • Einar S. Einarsson, Executive VP

    Corporate Services and Communication

    The Service and Marketing Division works cross-divisionally and is responsible for providing services to Landsnet’s clients. The division serves as the core for internal services and HR within the Company and oversees projects that support synergy, efficiency and cooperation. The division is also responsible for social responsibility matters as well as maintaining external and internal relations.
  • Sverrir Jan Norðfjörð, Executive VP

    Technology and Development

    The Technology and Development Division prepares grid development plans for all Landsnet infrastructure projects and manages research, environmental impact assessments and preparatory projects necessary to make decisions on infrastructure development. Our division includes a Engineering Services Unit, which prepares infrastructure works and provides cross-divisional technical services.
  • System Operations & ICT

    Íris Baldursdóttir, Executive VP

    The System Operations & ICT Division is responsible for the grid’s operational security which includes maintaining a balance between power generation and consumption, coordinating plans for the disconnection of units and overseeing the response to grid disturbances. Conditions in the electricity system are subject to continual change, requiring constant system monitoring and control. The division is also responsible for Landsnet’s information systems and is at the heart of the development of smart grid solutions.
  • Nils Gústavsson, Executive VP

    Construction & Grid Services

    The Construction & Grid Services Division oversees all construction work within the Landsnet transmission system network. The

Landsnet‘s Organization


Our team

We have focused on human resources development in recent years. Our objective is to ensure that our employees feel equipped and prepared to take on any future challenges. Our human resources policy was reviewed and its main priorities altered in line with the Company's newly re-defined policy, values and future vision.

There were a total of 119 positions at year-end 2016, an increase of 9 positions since 2015 and 6 positions when compared with 2014.

Fifteen new employees joined Landsnet this year and nine employees left the Company. These changes can mostly be attributed to retirement age. The trend will likely continue as approximately one fourth of our employees are aged 60 or older.

The gender ratio of our team has altered slightly in the last few years. Men account for 80% of our team whereas women account for 20%. However, the ratio is higher at the executive level where women account for 38% and men 62%.


Approximately 31% of our employees have been employed by Landsnet for over 11 years or more. However, approximately 25% have been employed by us for 3 years or less, due to the aforementioned changes.



Our team is well educated, experienced and rich in expertise. Approximately 64% of our employees have a university education, 28% have a technical education and 8% have other types of education. Most of our team are electric technicians or have a university education in engineering or technology. Other employees also have a wide range of experience and education.

New premises in Akureyri

Our first employee was hired in North Iceland in 2016. Landsnet has plans to further develop its premises in Akureyri by increasing staff numbers and with the aim of improving its service in North Iceland.

Health drive

A three week health drive took place in September this year and proved successful. We walked a total distance of 2,900 km which is nearly the distance between Reykjavík and Vienna. We also completed 20,457 health boosting activities and exercises as well as six hours of relaxation based exercises, lasting a total of six days.

The health drive contributed 7,405 litres of water to UNICEF in Iceland and provided 100 polio vaccinations as well as 30 portions of peanut-based paste for malnourished children.

WOW Cyclothon

Ten employees took part in the WOW Cyclothon in June which challenged participants to cycle around the country. Landsnet employees covered a total distance of 1,358 km.

Education and training

We are committed to providing education and training, as our operations require extensive and specialist expertise. The aim is to achieve continuous improvement, ensuring that our employees have the capability and knowledge to perform specific tasks as well as the confidence to take on any future challenges. A particular emphasis is placed on providing an education based on the policies and objectives set out by the Company. Needs analyses are utilised to assess training needs and training plans that reflect the specialised nature of Company operations are subsequently developed. One of the main objectives of training is knowledge dissemination and sharing the extensive expertise of our employees.

A total of 46 courses and presentations were held on our behalf this year. Thirty one expert courses were held internally this year, covering topics including underground cables, first aid, cable inspection, a SAReye course and workshops on the IEC61850 and PCM600 standards.

Landsnet’s team of directors also completed extensive management training this year, provided by Dale Carnegie.


The social media network ‘Workplace by Facebook’ was implemented in December this year. The network facilitates the easy access and communication of information via computer or smartphone. The network should help us to connect more closely, anywhere and at any time. The introduction of this medium has already proven its value by changing our workplace culture and strengthening our team spirit, despite the short period of implementation.

Summer positions

We hired 40 summer employees in 2016, including 24 secondary school students and 14 university students.

Our policy is to support young people in education and thus contribute to society. An emphasis is placed on offering university students interesting placements to give them the opportunity to familiarise themselves with real projects within their field of study.

Landsnet’s Owners

Landsnet is a public company owned by Landsvirkjun (the National Power Company), the State Electric Power Works RARIK, Reykjavik Energy and the Westfjord Power Company

Landsnet was founded in 2005 and operates under a concession arrangement. The Company is subject to regulation by the National Energy Authority, which determines the revenue framework on which our tariff is based.