Landsvirkjun chair says dispute with CEO was about working methods

The disagreement that led to Hörður Arnarson’s departure as chief executive of Landsvirkjun concerned working methods, not the company’s direction, board chair Brynja Baldursdóttir told mbl.is. She said the board and CEO had worked well together on the company’s strategy and operations.

Brynja said the board was no longer politically appointed. Five experienced managers joined it last year, and its way of working differed from what Hörður had been used to when the board consisted of political representatives.

“Unfortunately, we did not manage to find a rhythm between the board and Hörður. He made this decision,” Brynja said. She added that the two sides had been aligned on Landsvirkjun’s affairs and that the disagreement was about form, not substance.

Brynja declined to say whether the dispute had been personal or whether the board had discussed Hörður’s future before he announced his departure. She said he had requested to leave and the board had to respect that. He could leave proud of 17 years in the role, she said.

She denied that a disagreement over the company’s dividend plans had contributed to his departure, saying the board and CEO had cooperated well on all company matters, including dividends.

Brynja said the ministry had been informed at short notice that there was disagreement over certain matters and that the situation could arise. She said neither the minister nor the ministry had taken part in discussions about Hörður’s position or departure.

Asked whether she would seek the chief executive role, Brynja said she would not.