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Ericsson caught giving money to Islamic State

Ericsson Chairman Ronnie Leten said on Monday a comprehensive review is underway led by its new chief legal officer over the company's conduct relating to Iraq and how it was addressed.

Ericsson has been mired in a scandal in recent weeks over potential payments to the Islamic State in Iraq, and failing to fully disclose details of its investigation the U.S. Department of Justice (DoJ) as part of a 2019 agreement.

Last week Ericsson replaced its Chief Legal Officer since 2018, Xavier Dedullen, appointing Scott Dresser, who has been Veon's general counsel for the last eight years.

"The Company continues to coordinate with the DOJ and other relevant authorities," said Leten, adding that Chief Executive Officer Borje Ekholm has the full confidence of the board.

Ekholm has been under fire for not disclosing its probe into corruption in Iraq, and proxy firm Glass Lewis has recommended shareholders vote to remove him from the board ahead of the company's annual general meeting on March 29.

Source: US News & World Report

Written by The Levant