Samherji CEO steps down

Samherji CEO steps down

The chief executive officer (CEO) of the Icelandic fishing conglomerate Samherji has been suspended from his post following allegations of corruption in his company's activities in Namibia. Þorsteinn Már Baldvinsson is temporarily stepping down as director of Samherji while the company waits for the results of its internal investigation into the workings of its subsidiaries in Namibia.
The news comes in the wake of an investigation by Stundin and RÚV’s Kveikur programme that revealed large bribes had been paid to powerful players in Namibia to secure valuable fishing quotas for Samherji.
The Namibian Minister of Fisheries, Bernhardt Esau and Minister of Justice, Sacky Shanghala resigned on Wednesday, the same day the scandal broke in the media.
On Thursday, James Hatuikulipi, board chairman of Namibia's state-owned Fishcor, who has also been fingered in the scandal, also resigned from Investec, where he was employed.