CEO Will Not Return: Fredriksen

Maritime Activity Reports, Inc.

December 18, 2015

Norwegian-born billionaire John Fredriksen said Jo Lunder, who has been on leave as chief executive of his Fredriksen Group since November, would not come back, business paper Dagens Naeringsliv wrote on Friday.

Fredriksen Group controls rig firm Seadrill, fish farmer Marine Harvest, tanker company Frontline, dry bulker Golden Ocean and property company Norwegian Property, among others.

Lunder was put on leave in November due to an ongoing police probe at telecoms firm Vimpelcom, the firm he headed before he joined the Fredriksen Group.

"No, he will not come back here. We have clarified this between us in an orderly manner. Jo Lunder has to use his time on what he is involved in now. I wish him good luck," Fredriksen told Dagens Naeringsliv.

Norwegian, Dutch, Swiss and U.S. police are investigating payments made in connection to Vimpelcom's operations in Uzbekistan.

Dutch prosecutors have said the probe relates to alleged corruption. Lunder has said he is innocent and he has not been charged.

Reporting by Ole Petter Skonnord

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