Agust is one of the founders of Bakkavor and has served as Chief Executive Officer of Bakkavor from May 2006 to October 2022. He served as Executive Chairman of Bakkavor from 1986, the year the Bakkavor Group was founded, through to May 2006. Agust received his education from the College of Ármúli in Reykjavik, Iceland. Agust currently has no external appointments.