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Pension Fund Boss Resigns Over Panama Papers

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Pension Fund Boss Resigns Over Panama Papers

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Photo: Páll Stefánsson.

Kristján Örn Sigurðsson has resigned from his job as CEO of the United Pension Fund in Iceland, following his implication in the Panama Papers scandal.

Kristján was the registered owner of an offshore company and his case was covered on the Kastljós television program on Monday evening. Kristján would have been contractually required to seek pension fund board approval for any such personal financial dealings, but neglected to do so.

Ólafur Haukur Jónsson, the pension fund’s head of operations, will temporarily take over as CEO until a new boss can be recruited.

Below is Kristján’s statement on the affair, as reported by Vísir:

In light of the debate about me and the fact that my name can be found in the Panama Papers, I want to make the following clear:

I have always ensured in my work to work with integrity and obey laws and rules. I believe it is important due to this discussion about me that the United Pension Fund should not suffer damage. I have therefore informed the Board of the Fund that I wish to be released from my position in the hope that reconciliation will settle on the Fund and its operations.

I have worked for 19 years with the United Pension Fund where I have made many good friends and I want to thank all those good people for a good working relationship through all these years.

With respect,

Kristján Örn Sigurðsson

On Saturday, Kári Arnór Kárason resigned from his job as CEO of the Stapi Pension Fund, as he was also registered as owner of offshore companies, according to the Panama leak.

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