Thursday 15 March 2012

DONG CEO resigns amid payout inquiry

DONG Energy's CEO Anders Eldrup stepped down from his role on Monday amid claims of an alleged abuse of power with some of the firm's employees allegedly getting unusually large salaries.

The Danish energy firm, which has several interests in wind farms around the UK and is partly owned by the Danish Government, said the resignation has "nothing to do" with a governmental audit investigation currently taking place.

Fritz Schur, Chairman of DONG Energy's Board of Directors said yesterday: "The decision for Anders Eldrup to step down has nothing to do with the examination by Rigsrevisionen (Audit of the State Accounts) but the Board of Directors has learnt that Anders Eldrup has approved some unusual terms of employment for a few employees in DONG Energy."

Speculation in the Danish media has suggested there was an "abuse of power", reporting allegations that DONG's former chief executive handed out huge salaries of up to five million kroner (£560,000) to a few employees.

Mr Schur added: "We do not believe that Anders Eldrup has acted for personal gain in this case. We continue to acknowledge the huge contribution that Anders Eldrup has made over the years to make DONG Energy one of Northern Europe's leading energy companies."