Word: loeddesoel
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...Iran, it ran into trouble. In mid-September, economic-crime police raided the company's Stavanger headquarters; they believe a $15 million payment to the Swiss bank account of a consulting firm may have been a bribe destined for Iranian officials. Three top executives of Statoil - chairman Leif Terje Loeddesoel, CEO Olav Fjell (inset above) and executive vice president Richard J. Hubbard - have resigned under pressure because of the growing scandal. "I can see now that I operated on the ethical borderline," Fjell said with Nordic understatement at a news conference. Statoil said it would continue its international operations...
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