Ólafur Ólafsson, Chairman of Samskip, graduated with a degree in business administration from the University of Iceland in 1984. From 1977-1984 he operated his own export business, and from 1984-1986 he managed Iceware France and Iceware US. He was a board member of Samband of Iceland from 1986-1987, began working for Álafoss Inc. in 1987 and was managing director of the company from 1990-1992. He then moved to Samskip where in 1993 he became president, and chairman since 2003.

Ólafur has been the chairman of SÍF hf., later Alfesca, since 1999, and for a while was on the board of Olíufélagið hf., Ker hf. and the Icelandic Red Cross. In 2007, the Minister of Agriculture appointed him to the first board of the Iceland Agriculture Museum in Hvanneyri.