Controversy
As a controversial businessperson, Fjell has had a strained relationship with the press. In his last period as CFO in Kongsberg he had massive problems internally because of the company's economic fall and felt that the press was excessive and critical. As in 2003 with the Statoil corruption case in Iran it was Dagens Næringsliv that led the critical journalism. It ended with him being decommissioned from his position with Kongsberg.
Fjell was central in the corruption scandal that Statoil experienced in 2003. After pressure both internally and from the media the board had to remove Fjell on the evening of 22 September 2003. Statoil was fined NOK 20 million for corruption from the Norwegian National Authority for the Investigation and Prosecution of Economic and Environmental Crime. Despite the seriousness of the case and the weakening of the name of Statoil, Fjell was according to the media given a compensation between NOK 7.5 and 10 million. In addition he sued Statoil with demands for early pension from 60 years equal to 66% of his wage. Statoil denied this agreement, though it was mentioned in the press release at the time of Fjells departure. In December 2005 Fjell won the court case, and he can expect payments from Statoil up to about NOK 40 million.
Read more about this topic: Olav Fjell
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