Telenor said that, as a result of the external review by Deloitte of the group’s handling and oversight of its minority ownership in VimpelCom, it has temporarily relieved CFO Richard Olav Aa and General Counsel Pal Wien Espen of their responsibilities. It has taken the same measure with its former nominees to the VimpelCom executive committee, Fridtjof Rusten, who is CFO at Telenor's Thai subsidiary Dtac, and Ole Bjorn Sjulstad, who is head of Telenor Russia.
Telenor has appointed executive vice president Morten Karlsen Sorby as acting CFO. He joined the supervisory board of VimpelCom in 2015, and will now withdraw from this position with immediate effect, seconding his vote to Gunnar Holt.
CEO Sigve Brekke said Telenor has no reason to believe that the four men temporarily suspended had been involved in the alleged corruption at VimpelCom and that they are trusted managers, with a solid track record at Telenor. As questions have been raised about how Telenor handled concerns related to VimpelCom’s investment in Uzbekistan, it has come to a “mutual understanding” with the four that they should be temporarily relieved of their responsibilities until the facts have been established.
It said Aa, Espan, Rusten and Sjulstad express that they have contributed to handling concerns related to VimpelCom’s investment in Uzbekistan in a correct manner. The four will maintain their salary and other benefits during the period of leave of absence.
