Tele2 fires CEO after leadership row

Quotes

   

Thu Feb 18, 2010 11:42am GMT

* Exit due to "irreconcilable differences" over leadership

* Koponen leaving after less than 2 yrs as CEO

* CFO to be interim CEO while position being filled

* Chairman says strategic direction remains unchanged

(Adds detail, background)

STOCKHOLM, Feb 18 (Reuters) - Tele2 (TEL2b.ST) Chief Executive Harri Koponen is stepping down after less than two years in his job due to "irreconcilable differences" over leadership, the telecom operator said on Thursday.

The company said its board of directors had appointed Chief Financial Officer Lars Nilsson as interim chief executive while a permanent replacement was being found.

"The strategic direction of Tele2 is unchanged. Lars Nilsson and the Executive Board have the full support of the Board of Directors to continue its successful execution," Tele2 chairman Vigo Carlund said in the statement.

Under the leadership of Koponen, who joined as chief executive in August 2008, Tele2 has exited many of its business ventures in mature markets in Western Europe in order to seek better growth opportunities further east, not least in Russia.

Earlier this month, the company posted broadly flat core profit for the fourth quarter, in line with expectations, and said it was adding new customers at a fast pace in the key Russian market. [nLDE618051]

(Reporting by Niklas Pollard; Editing by Erica Billingham)

((niklas.pollard@reuters.com; +46 8 700 1110, Reuters messaging: niklas.pollard.reuters.com@reuters.net)) Keywords: TELE2/

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