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Ericsson investigating how it addressed Iraq probe, board backs CEO -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The Ericsson logo can be seen in its Stockholm headquarters, Sweden on June 14, 2018. REUTERS/Olof Swahnberg/File photo

STOCKHOLM – Ericsson BS: Chairman Ronnie Leten announced Monday that a complete review was underway, led by the new chief legal officer. This will include examining how Ericsson’s behavior in Iraqi relations and what it did to address them.

Ericsson was embroiled in scandal over possible payments to Islamic State of Iraq in the recent weeks. The investigation by the U.S. Department of Justice, DoJ (a part of an agreement for 2019), has not been fully disclosed.

Ericsson’s Chief Legal Officer from 2018 to 2018, Xavier Dedullen was fired last week. Scott Dresser has served as Veon’s general counsel for the past eight years.

Leten said that the Company “continues to coordinate avec the DOJ, other relevant authorities”, and also stated that Borje Elkholm is the Chief Executive Officer with full board confidence.

Ekholm was criticized for failing to disclose its investigation into corruption in Iraq. Proxy firm Glass Lewis recommended that shareholders vote to have him removed from the board of directors ahead of the annual general meeting, which takes place on March 29.

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