In Wednesday news broke about chairwoman Gunn Wæersted express remaining CEO Sigve Brekke to resign have shooke Norwegian financial media. DN (Dagens Næringsliv) have raported that Telenor's new chairman Gunn Wæersted have criticized the CEO's past engagements in Asia and expressed that the CEO should resign.
Telenor (STO: TELO) is one of the biggest company in the country and the state own around 54 percent of the company. Although the state had announced that they have full confidence in Telenor's management and board members, they have refused to comment on concerning the company's power struggle. Concerning to the news, Norway's business and trade minister have called for a meeting with Wæersted.
The conflict between CEO and chairwoman is not good in the long term for the company. Therefore one of them have to resign in the coming week.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.