Jo Lunder has stepped down from his role of ceo at Fredriksen Group having been caught in the middle of a corruption scandal.
Lunder was arrested by police in Norway late on Wednesday night and charged in relation to corruption at telecoms firm VimpelCom, of which Lunder was formerly chief executive.
Last night, North Atlantic Drilling announced on Oslo Bors that after consultation with the company Lunder has stepped down as a director, until investigations are completed. It has since been reported in Norwegian media that Lunder has stepped down from all roles within the group.
Lunder was appointed head of the Fredriksen Group in May, which manages John Fredriksen’s interests in his group companies including Frontline, Seadrill, and Golden Ocean.