Former chair questions Landsvirkjun board’s private lunches

Jón Björn Hákonarson, a former chair of Landsvirkjun’s board, says it is unusual for the company’s board to hold lunches without the CEO’s knowledge, mbl.is reports. He says the company’s rules require the CEO to attend board meetings.

“Of course, there may be specific matters that need to be discussed without the CEO, but it is very unusual for meetings without executives to happen repeatedly,” Jón Björn told mbl.is.

Former CEO Hörður Arnarson said in an interview on Bylgjan radio on Sunday that board meetings had been held without him being invited. He resigned at the beginning of the month after 17 years in the role, citing, among other reasons, disagreements with the board.

Brynja Baldursdóttir, the current board chair, denied that the board had held meetings without the CEO. She told mbl.is that the gatherings were lunches intended to discuss meeting procedures and cooperation within the board. Such informal meetings do not conflict with Landsvirkjun’s rules, which say the CEO must attend board meetings and has the right to speak and make proposals, unless the board decides otherwise in individual cases.

Jón Björn, who served on the board for more than a decade, said there was no tradition of holding such lunches. The board held an annual meeting to assess its work and how material was presented, he said, but it was scheduled in advance and held with the CEO’s knowledge. Otherwise, the CEO had always been invited to board meetings.

He said it was strange for the board to meet informally over lunch to discuss its own work, given the rules on how board meetings should be conducted. He also questioned why the board would need to meet repeatedly to discuss its procedures.