The “King of Orkla”, Jens Paludan Heyerdahl the younger, seems to have lost the struggle for the Norwegian food, media, chemical and financial group he has run for the past 22 years.
Go deeper with GlobalData
At Orkla’s AGM yesterday he unexpectedly resigned, supporting a proposal for a new board that will include a number of his critics.
Battle lines had been drawn up before the AGM and several small shareholders had expressed support for Heyerdahl and their dissatisfaction with the proposal to change 11 of the 14 board members. When Heyerdahl supported the changes however, the air went out of the balloon.
On the Norwegian website newspaper Nettavisen, Heyerdahl apologised for the tumult at the company over the past nine months. There have been accusations of abuse of power and questionable methods between Heyerdahl and financier Christen Sveaas, one of Orkla’s biggest shareholders. After the meeting Sveaas shook Heyerdahl’s hand and congratulated him on a “wise recommendation.”
By Penny Leese, just-food.com correspondent
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
