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Telenor board reaffirms trust in CEO after recent turmoil
December 13, 2016 / 7:42 PM / 9 months ago

Telenor board reaffirms trust in CEO after recent turmoil

OSLO, Dec 13 (Reuters) - The board of Norway’s Telenor expressed faith in its chief executive on Tuesday and set a long-term strategy for the firm as it sought to overcome disagreements that had played out in public.

Financial daily Dagens Naeringsliv last week reported that Chairwoman Gunn Waersted had called on Telenor Chief Executive Sigve Brekke to step down, but that a majority of board members rejected the plan.

Following a two-day meeting, Telenor said in a statement its board had faced complex issues in recent months, including strategy, governance and compliance, but added it had unanimously agreed on a strategy for the years towards 2020.

“During the meeting, the Board has confirmed its trust in CEO Sigve Brekke,” state-controlled Telenor said, adding that he was the right person to lead the implementation of the new strategy.

The company will hold a news conference on Wednesday. It did not elaborate on its strategy. (Reporting by Stine Jacobsen, editing by Terje Solsvik)

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