OSLO Dec 13 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
The company will hold a news conference on Wednesday. It did
not elaborate on its strategy.
(Reporting by Stine Jacobsen, editing by Terje Solsvik)