Nov 9 The board of Norwegian telecoms operator Telenor has terminated a consultancy agreement with former Chief Executive Jon Fredrik Baksaas due to the ongoing police corruption investigation at partly held Vimpelcom , it said on Monday.
The termination of the relationship was done through a mutual agreement, the company added.
"Baksaas has also notified the Board that he will refrain from bonus payment for 2015. The decision is effective from today," Telenor said in a statement.
Vimpelcom, where Baksaas is a former board member, is under investigation by police in Norway, the Netherlands and the U.S. for payments made in connection to its business in Uzbekistan. (Reporting by Terje Solsvik, editing by Stine Jacobsen)