Gunvor Ulstein is the daughter of the group's previous CEO, Idar Ulstein (1934-2012). She holds an MBA from the Norwegian School of Economics and Business Administration, and 1 Law Department at the University of Bergen. She was previously managing director of Ulstein Verft (1999–2003), while her brother, Tore Ulstein, was technical director at Ulstein Verft. Previously, she worked as a sales manager at the engine factory Ulstein Bergen (1997–1999). In 1994-1997 she worked as a market analyst, and in 1993-1994 she was a trainee at Columbia Shipmanagement of Cyprus. Gunvor Ulstein is also head of the subsidiary Ulstein Shipping. She is also the sole owner and manager of the company Mogul Invest, which is co-owner of Ulsmo AS, the largest owner of the Ulstein Group.
Gunvor Ulstein is head of the board of Ulstein Verft, Ulstein Design & Solutions AS, Ulstein Verft Eiendom, Vanylven Eiendom, Ulstein International, Ulstein Marine Services, Ulstein Trading and Ulsmo. She is also head of the board at Hafast (Hareid Fastlandssamband), an association engaged in mainland connection from Hareid to Ålesund via Sula. She is also a member of the Advisory Board at NHH, the advisory Board to SOS Children's Villages and Nor-Shipping Advisory Board.
Previously, she has been the deputy head of the board of NRK, deputy head of the board of the Council of Det Norske Veritas (DNV), a member of Trade and Industry Minister's Council for Maritime Development (MARUT), a member of the Supervisory Council of Norges Bank, a board member of Eksportfinans (2003–2007), member of the Executive Board of the Teknologibedriftenes Landsforening (now: Norsk Industri), and deputy head of the board of NHO Møre og Romsdal.
In 2006, she was voted Businesswoman of the year by Veuve Clicquot, champagne manufacturer,. In 2008, she was appointed Shipping Name of the Year by WISTA.. She was appointed Young Person in Shipping Award 2011 by Seatrade Awards (handed out by Princess Anne),, and received Tekna's Gold Medal in 2013. The Medal is given as an honour and encouragement to Norwegian managers or companies for outstanding efforts in creating new opportunities for Norwegian technologists, both in Norway and internationally.
- Dagens Næringsliv, 5. mai 2006: Årets forretnings-kvinne
- Skipsrevyen: Gunvor Ulstein overekkes WISTA-prisen på Haugesundkonferansen Archived 2011-07-24 at the Wayback Machine.
- Maritime Executive, 11.04.2011: Gunvor Ulstein receives Seatrade Young Person in Shipping 2011 Award
- World Maritime News: Gunvor Ulstein receives Tekna's Gold medal