TeliaSonera sacks chief financial officer after Eurasia review
TeliaSonera has fired its chief financial officer and three other top executives following an independent review of its activities in Eurasia.
Chief financial officer Per-Arne Blomquist will leave his position immediately and be replaced by Christian Luiga, currently Head of chief executive officer’s Office. TeliaSonera did not name the three other executives.
The investigation was started in April after revelations in the Swedish press over possible corruption in the development of the company’s activities in Uzbekistan. TeliaSonera hired the law firm Norton Rose Fulbright to conduct a review of the transactions and agreements made over the past few years by TeliaSonera and its partners in Eurasia. While the review is still on-going, information received to date made it clear that ‘the processes for conducting some transactions have not been in line with sound business practices’, the company said.
As a consequence the four individuals will now leave the company.
In addition to Norton Rose Fulbright the Swedish law firm Mannheimer Swartling has also advised the board. The company said it will hand over the material from the Norton Rose Fulbright review to the Swedish Public Prosecutor’s office, which is conducting its own investigation of the company.