Statement from the Board of Directors meeting in Telenor ASA

The Telenor Board of Directors has had several complex issues for discussion during the past months related to themes like strategy, governance and compliance. There have been differing viewpoints in the Board on some topics. The Board has unanimously concluded on the following points:

Published: 13 December 2016

The Board and management has agreed upon the company’s strategic direction towards 2020. Going forward, the board will focus fully on the continued development of Telenor as a value creating, innovative and responsible company.

During the meeting, the Board has confirmed its trust in President and CEO, Sigve Brekke. It is the Board’s opinion that Mr. Brekke is the right person to lead the implementation of the new strategy. Recently, media has referred to issues from Sigve Brekke’s period as Head of Asia. The cases have previously been handled and concluded upon by the Board.

During the past year, Telenor has had a specific focus on improving governance and follow-up and review in our different markets. Telenor operates in many challenging markets and will also in the future have to handle compliance and business ethics risks. The Board and management will therefore further strengthen the mitigation work and the development of good systems to detect and solve issues that arise.

Telenor will hold a press meeting Wednesday 14. December, at 11:00 at Telenor’s headquarters at Fornebu. Chair of the Board, Gunn Wærsted, and President and CEO, Sigve Brekke, will be available.

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