Pursuits

Billionaire Fredriksen Suspends CEO Lunder Amid Bribe Probe

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By Mikael Holter and Stephen Treloar

November 6, 2015 at 7:41 AM UTC

Updated on

November 6, 2015 at 5:43 PM UTC

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The Fredriksen Group suspended Chief Executive Officer Jo Lunder after he was detained by Norwegian authorities in a bribery probe related to his former role as the top executive at VimpelCom Ltd.

“We have in consultation with Jo Lunder agreed that he be laid off from all his roles in the Fredriksen Group until further notice,” Harald Thorstein, an official at the company, said in a statement distributed by news agency NTB.