Telecom network operator Telenor Group has terminated the consultancy agreement of former CEO Jon Fredrik Baksaas with the Board.
As per the agreement, Baksaas has offered strategic consultancy services to the Board of Telenor Group from August 2015.
The Norway-based Telenor Group said the mutual decision follows the recent developments relating to the alleged corruption in VimpelCom and the ongoing investigations by several government agencies. Telenor owns 33 percent stake in VimpelCom. Telenor earlier announced its decision to exit from VimpelCom.
Baksaas has also notified the Board that he will refrain from bonus payment for 2015. The company did not reveal the bonus amount.
“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,” said Baksaas.
In August 2015, Baksaas stepped down as CEO of Telenor Group after working for the telecom giant for 13 years. He has since then served as a strategic consultant to the Board of Directors, reporting to the Chairman of the Board.
At present, Deloitte, a third party agency, is evaluating the role of senior officials of Telenor and VimpelCom in the alleged corruptions.
Telenor Chairman Svein Aaser on October 30 decided to step down.
Norwegian police last week detained VimpelCom’s former CEO Jo Lunder at the Oslo airport as part of its probe into the alleged bribes to win business in Uzbekistan.
VimpelCom has set aside $900 million to cover possible U.S. and Dutch fines. VimpelCom faces questions into the role of Gulnara Karimova, daughter of the president of Uzbekistan, in the awarding of contracts.
The Norway government owns 54 percent stake in Telenor. Norway’s parliament decided to conduct a new hearing into how Telenor handled information relating to VimpelCom. The legislature’s Constitution and Control Committee held hearings with Baksaas and the chairman in January this year.
Baburajan K
editor@telecomlead.com
