Swedish incumbent TeliaSonera’s board has denied bringing forward a search for replacing CEO Lars Nyberg amid the current controversy over its Uzbek operations.
Responding to a local report that suggested Nyberg may resign earlier than planned after…
Swedish incumbent TeliaSonera’s board has denied bringing forward a search for replacing CEO Lars Nyberg amid the current controversy over its Uzbek operations.
Responding to a local report that suggested Nyberg may resign earlier than planned after the company hired a recruitment firm, chairman Anders Narvinger insisted the CEO’s current contract still expires in December 2013.
“To find a replacement for a CEO of one of Sweden’s largest corporations is a long process which the board initiated before the current debate started,” said Narvinger.
TeliaSonera has strongly denied allegations of bribery and money laundering in Uzbekistan. These allegations, which were made in mid-September in a Swedish broadcast that looked into a 2007 deal it secured with Gibraltar-based Takilant for an Uzbek 3G licence, have prompted anti-corruption investigators to launch a probe into the matter.
The telco has also hired Mannheimer Swartling to conduct its own external review into the allegations. Nyberg has said he would resign if evidence of wrongdoing was found in the independent review, which the company expects to complete later this year.
