The Telenor Board and Baksaas terminate consultancy agreement
(Thomson Reuters ONE) -
(Fornebu, 9 November 2015): Former CEO Mr. Jon Fredrik Baksaas and the Board of
Directors in Telenor Group have today reached a mutual agreement to terminate
Baksaas' consultancy agreement with the Board. Baksaas has also notified the
Board that he will refrain from bonus payment for 2015. The decision is
effective from today.
"The recent developments in the ongoing investigations of VimpelCom make my role
as strategic advisor to the Board in Telenor challenging. I have dedicated my
career to Telenor and find the situation very unfortunate, complex and sad for
the company. It is vital that Telenor's management and Board of Directors now
have room to handle the situation effectively. I hope my decision will
contribute to this and wish Telenor and all its great employees all the best,"
says Baksaas.
Baksaas stepped down as CEO of Telenor Group in August 2015 after 13 years. He
has since then served as a strategic consultant to the Board of Directors,
reporting to the Chairman of the Board.
"Although it is VimpelCom that is under investigation, and Telenor is
cooperating with the investigating authorities as a witness, questions have been
raised about what information the Telenor Group had about the alleged corruption
in VimpelCom. The Board of Directors have initiated an external review by
Deloitte law firm to get to the bottom of this and all other aspects of this
case. I am pleased that the Board and Baksaas have reached a mutual agreement to
terminate the consultancy agreement," says Interim Chairman of the Board in
Telenor Group, Mr. Frank Dangeard.
Baksaas keeps shares already awarded under Telenor's long term incentive program
(LTI) according to his employment contract.
Contact:
Glenn Mandelid, Telenor Group Communications, (+47) 926 61 300
Atle Lessum, Telenor Group Communications, (+47) 415 05 645
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Telenor via GlobeNewswire
[HUG#1965280]
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 432883
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