The Competition Authority is an independent body. It is overseen by a Board which derives its mandate from the Minister and is accountable to them. The Board's role is to set the strategic priorities and to oversee the activities and operations of the Competition Authority. The Board appoints a Director-General who manages the organisation's day-to-day affairs. Major substantive decisions are submitted to the Board for approval or rejection. The Board has established its own rules of procedure., No. 380/2023 which, among other things, sets out what is to be considered a major decision.
The Board of the Competition Authority is thus appointed until 11 November 2029:
- Margrét Einarsdóttir, Chair of the Board
- Björg Árnadóttir
- Kári Joensen
The Alternate Members of the Board of the Competition Authority are as follows:
- Helga Reynisdóttir
- Steindór Dan Jensen
- Kári Kristjánsson
The Director-General of the Competition Authority is responsible for the daily management of the organisation's activities and operations. The organisation's Board determines the Director-General's terms of employment and issues a job description. The Director-General appoints the organisation's staff.
The Director of the Competition Authority is Páll Gunnar Pálsson.
The Deputy Director is Ásgeir Einarsson.
The Chief Economist is Valur Þráinsson.
Joint statement of the Ministry of Industry and Innovation and the Competition Authority
A joint declaration of the Ministry of Industry and Innovation and the Competition Authority is in force, which serves as a guide for the implementation of competition policy and strategy.of the Ministry of Industry and Innovation and the Competition Authority, which serves as a guide for the implementation of competition policy and strategy in the sector, and for the respective roles of the Ministry and the Competition Authority in the field of competition. The declaration is part of the implementation of policy formulation and performance evaluation, which underlies the financial strategy and financial plan in accordance with the law on public finances. The declaration also serves to ensure the independence and responsibility of the Competition Authority in the performance of its tasks.
The Competition Authority is a Category A establishment and its operations are funded by the state budget.