Minister says Landsvirkjun CEO chose to leave after management dispute

Finance and Economic Affairs Minister Daði Már Kristófersson says former Landsvirkjun chief executive Hörður Arnarson chose to leave after a disagreement over general management priorities. He rejected claims that Hörður was forced out and said there was nothing further to add about the reasons for his departure, mbl.is reported.

Daði was responding to questions from Independence Party MP Guðlaugur Þór Þórðarson during an unscheduled question session in parliament on Monday. Guðlaugur asked why Hörður had decided to step down after 17 years in the role and criticised the company’s board chair for not giving more detail about the disagreement.

Guðlaugur said the departure had drawn public attention and argued that people were entitled to an explanation, pointing to Landsvirkjun’s importance to the national economy. He said the state-owned company had paid 110 billion krónur in dividends to the Treasury over the past five years.

Daði said the interpretation that Hörður had been pushed out was unfounded. He said Hörður had decided to leave on his own initiative and praised his work to improve the company’s profitability.

The minister said the board chair had described the reasons, as explained by the CEO, as general differences over management priorities, rather than disagreements about the company’s strategy or vision for the future.

Guðlaugur pressed for more detail, saying the matter was not a private issue for Viðreisn and that the finance minister had responsibility for it. Daði maintained that disagreements over general management priorities could arise within the boards of state-owned companies without relating to specific issues. He said there was nothing more to add.