Former officials demand minutes from secret Landsvirkjun board meetings

A former Landsvirkjun board member and a former finance minister are calling for minutes from two board meetings held without the company’s then-chief executive to be disclosed. They say the meetings may have been illegal, mbl.is reported.

Álfheiður Ingadóttir, who served on the board for 14 years, said the board’s explanations and those of Finance Minister Daði Már Kristófersson had changed as new information emerged. Sigurður Ingi Jóhannsson, the former finance minister, said the minutes were needed to establish what had happened and warned that further scrutiny could uncover more serious issues.

They discussed the departure of former chief executive Hörður Arnarson and the board’s communications with the Finance Ministry on the mbl.is programme Spursmál. Álfheiður said it had initially been suggested that Hörður left because of a disagreement over governance. Information later emerged about meetings held without him.

Álfheiður referred to reports that Hörður had been asked to leave two board meetings. She also said two formal board meetings, held on June 23 and September 23, took place without him being invited. According to her, he learned of the first meeting three months later and the second three weeks later.

She said the meetings breached the governance rules that should apply at Landsvirkjun, and noted that the company’s chief executive is legally required to attend board meetings. She asked what had been discussed and said the minutes should be made public.

Sigurður Ingi agreed that the minutes should be disclosed. He said the meetings appeared to have breached the law governing Landsvirkjun. The matter has been referred to the Icelandic parliament’s Constitutional and Supervisory Committee, he said, and gathering documents could bring further serious issues to light.