Hörður Arnarson, chief executive of Landsvirkjun, the National Power Company of Iceland, has resigned after about 17 years in the role; Landsvirkjun is the country’s main electricity producer. The announcement of his departure came in early October, according to national broadcaster RÚV, and follows Arnarson’s statement that he no longer had the level of trust required in his position.
Reporting by Vísir and RÚV confirms that Arnarson described the decision to leave as his own initiative and on his own terms. Despite the lengthy tenure, Arnarson said in a broadcast interview that he was satisfied with his time at Landsvirkjun and believed that the company remained in a good position.
An opinion piece published by Vísbending suggested that when chief executives step down without direct pressure it may be linked to board decisions that upset company governance. However, no specific details about the circumstances of Arnarson’s departure or board activities have been officially disclosed.
Miðjan reported that the board of Landsvirkjun has been replaced and that Brynja Baldursdóttir is the new chief executive, but this information has not been confirmed by other outlets. Reported details about board appointments and Arnarson’s replacement differ between sources and remain unclear.
Background
Landsvirkjun was founded in 1965 by the state of Iceland and the city of Reykjavík. Today, it is the country’s largest electricity generator, operating 21 power stations across Iceland, including 15 hydropower, three geothermal, and two wind facilities.
Sources
- Vísir (first reported) in Icelandic
- RÚV in Icelandic
- mbl.is in Icelandic
- Vísbending in Icelandic
- Miðjan in Icelandic
Image: Richard Bartz / Wikimedia Commons (CC BY-SA 3.0) · licence, original (resized) Illustrative image.
