Former Deputy Prime Minister Maud Olofsson kicked off LKAB board
Former Center Party leader and Deputy Prime Minister Maud Olofsson has reportedly been removed from the board of the state-owned mining company LKAB. According to the newspaper Svenska Dagbladet, the move comes because she has refused to testify before a parliamentary committee about a controversial deal when she was the responsible minister.
Olofsson was Deputy Prime Minister and Minister for Enterprise when another state-owned company, Vattenfall, made its costly purchase of the Dutch company Nuon. She’s refused to testify to the parliamentary Committee on the Constitution about the deal, which is why, Svenska Dagbladet’s source says, the government has lost confidence in her.
Vattenfall paid SEK 89 billion for Nuon, the most expensive deal of its kind in Swedish history, and which Svenska Dagbladet says turned out to be around SEK 40 billion more than it was worth.
Meanwhile LKAB announced 400 lay-offs when it presented its annual report for Friday. It proposes a dividend to the state of just SEK 139 million for 2014, compared to SEK 3.5 billion the year before.