Jo Lunder Not Coming Back to Fredriksen Group

Former Chief Executive Officer of the Fredriksen Group, Jo Lunder, who got tangled up in a bribery scandal and was arrested in Norway in November will not be returning to the company, according to the shipping magnate John Fredriksen.

In an interview with local media, Fredriksen said that Lunder will not be coming back to his position due to the ongoing situation and wished him success in his future work. Fredriksen added that it is now up to his company to find the best solution for internal management and consider whether Lunder needs to be replaced.

Lunder is linked to an alleged bribery case in Uzbekistan while working as head of VimpelCom in 2011.

According to the allegations, Lunder is believed to had paid USD 30 million from Vimpelcom to an account in Switzerland, belonging to the Uzbek company Takilant, to bribe officials in Uzbekistan in order to secure permits for wireless connections.

However, Lunder declared innocent on the said charges.

Lunder acted as former head of VimpelCom from 2011 till 2015, before he was appointed head of the Fredriksen Group in May this year, a role he assumed in September.

Following the latest developments, Lunder stepped down from his position at Fredriksen Group until further notice.