Fredriksen Suspends CEO

Published Nov 6, 2015 6:47 PM by Reuters

The Fredriksen Group has put Chief Executive Jo Lunder on leave until further notice due to a police investigation into him over his role as former head of telecoms company Vimpelcom, Norwegian news agency NTB reported on Friday.

Lunder was arrested by police in Oslo on November 4.

Fredriksen Group holds major interests in oil and LNG tankers, and is the parent company of drill rig and drill ship operator Seadrill.

"The Fredriksen Group has learned that Jo Lunder is under investigation by the Norwegian prosecution in connection with the Vimpelcom case. The investigation is not related to his current positions," NTB reported, citing Harald Thorstein from the Fredriksen Group.

"In consultation with Jo Lunder we have agreed that he has been put on leave from all his roles in the Fredriksen Group until further notice".

Reuters could not immediately reach the Fredriksen Group for a comment. Lunder's lawyer Cato Schioetz said on Thursday Lunder considered himself innocent of the allegations of corruption. .

(Reporting by Stine Jacobsen; Editing by Mark Potter)