Harald Norvik, the Chairman of the Board of Directors of Telenor has resigned from his post after a Norwegian government minister expressed lack of confidence in him.
“The Minister of Trade and Industry, Trond Giske, representing the majority shareholder in Telenor ASA, today expressed a lack of confidence in the Chairman of Telenor, following the handling of the TV2 issue in January this year. I have therefore decided to step down as Chairman in Telenor,†says Harald Norvik.
A company jointly owned by Telenor and labour unions sold a 50-per cent stake in TV2 to Egmont for 2.1 billion Norwegian crowns ($367 million) in January, giving the Danish firm 100 per cent control.
The minister was apparently not happy with this deal.Harald Norvik will continue as Chairman of the Board until a new Chairman has been elected by the Corporate Assembly.Norvik has served as Chairman of Telenor since 31 May 2007.