{"id":21006,"date":"2022-03-30T09:45:49","date_gmt":"2022-03-30T13:45:49","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=21006"},"modified":"2022-04-04T11:01:06","modified_gmt":"2022-04-04T15:01:06","slug":"investors-rebuke-ericssons-ceo-over-handling-of-iraq-probe","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/investors-rebuke-ericssons-ceo-over-handling-of-iraq-probe\/","title":{"rendered":"Investors Rebuke Ericsson&#8217;s CEO Over Handling Of Iraq Probe"},"content":{"rendered":"<p data-ar-index=\"0\">Ericsson&#8217;s Chief Executive Borje Ekholm has been criticized by investors over the handling of the Iraq probe at the group&#8217;s annual general meeting (AGM) on Tuesday.<\/p>\n<p data-ar-index=\"1\">The U.S. Department of Justice (DoJ) accused the company of breaching a 2019 deferred prosecution agreement after it failed to report potential misconduct in Iraq to the U.S. authorities.<\/p>\n<p data-ar-index=\"2\">Investors were furious because they were not informed of the company probe until media inquiries about it surfaced.<\/p>\n<p data-ar-index=\"3\">During the meeting, shareholders representing more than 10% of Ericsson shares voted against discharging board members of liability for the previous year.<\/p>\n<p data-ar-index=\"4\">The Swedish Company law allows shareholders to sue board members that are not annually discharged of their liabilities by shareholders.<\/p>\n<p data-ar-index=\"5\">Shareholders, however, approved a proposal to reappoint the CEO and the board. Chairman Ronnie Leten also stated that Ekholm and the management team had the full support of the board.<\/p>\n<p data-ar-index=\"6\">&#8220;I fully understand the concern over the recent turbulence in Ericsson. I want to emphasize again the full commitment to rebuild your trust in Ericsson,&#8221; Leten told the meeting.<\/p>\n<p data-ar-index=\"7\">For more information, read the <a href=\"https:\/\/www.reuters.com\/business\/ericsson-ceo-faces-investor-ire-over-handling-iraq-probe-2022-03-29\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ericsson&#8217;s Chief Executive Borje Ekholm has been criticized by investors over the handling of the Iraq probe at the group&#8217;s annual general meeting (AGM) on Tuesday.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57,15],"tags":[],"class_list":["post-21006","post","type-post","status-publish","format-standard","hentry","category-companies","category-leadership"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/21006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=21006"}],"version-history":[{"count":2,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/21006\/revisions"}],"predecessor-version":[{"id":21023,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/21006\/revisions\/21023"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=21006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=21006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=21006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}