Former Fredriksen executive seeks ‘historic compensation’

Salmon Business

A former chief executive of Marine Harvest’s largest shareholder has been cleared by Norwegian police of wrongdoing, and now he’s indicating he’ll sue Oslo for lost earnings.

Jo Lunder was a highly paid executive in the John Fredriksen controlled Geveran Trading group known for its interests in shipping, oil rigs and aquaculture. He was arrested at the airport in 2015 after being at his post for just a few months, his dealings in the Russian telecom company Vimpelcom under suspicion. Lunder agreed to leave his post in the investor company shortly after the arrest.

“Jo Lunder was one of the best paid business leaders in the country,” Mr. Lunders’ lawyer, Cato Schioetz, is quoted by Norwegian iLaks and E24 as saying. Schioetz said the compensation they’ll be seeking hasn’t been calculated yet, but “it’ll be historic”.

“It’ll be a record-high amount by Norwegian standards, definitely,” he continued.

Geveran Trading is Marine Harvest’s largest shareholder with an 18-percent stake.