Erik Olsson, President and CEO of Posten AB, the Swedish postal operator, and proposed Presidentand CEO for the merged company with Post Danmark, has resigned with immediate effect due to a lack
of confidence from the board.Posten announced the decision in a statement but did not give further explanation of thereasons behind the resignation. Olsson had been seen as a strong supporter of the merger betweenPosten and Post Danmark.
The Associated Press reported that Olsson had been sacked due to disagreements with the boardbut cited a company spokeswoman as saying that the decision had nothing to do with the plannedmerger of Posten and Post Danmark.
Olsson will be replaced on an interim basis by Lars G. Nordström who is a member of the Boardof Nordea, Nordic financial services group, where he was President and CEO until 2007. He is also amember of the board of TeliaSonera and VikingLine.
As the new president and CEO of Posten AB, Nordström will also be responsible for theintegration of Post Danmark.
Posten said that the process to recruit a permanent President and CEO will begin immediately.
According to his contract, Erik Olsson has the right to 12 months notice in case ofdismissal. He is also entitled to a severance pay equal to one year’s salary. The severance paywill be deducted against employment income. Olsson will be at the company’s disposal during hisperiod of notice.
