Bank CEO resigns amid internal conflict

Longstanding turbulence in BankNordik’s management structure today culminated in CEO Árni Ellefsen’s resignation.

The decision follows a feud between the bank’s committee members which Ellefsen says has been ongoing for years.

According to dimma.fo, BankNordik’s investors were so concerned by this internal conflict that they decided to replace the entire committee at last month’s general assembly.

“When I took on this role seven years ago, I said that I was not expecting this to be a job for life. The turbulence in our committee over the past few years has been exhausting,” he says.

Tough decision

In a press release issued by BankNordik this morning, the now former CEO writes:

“This was not an easy decision for me to make as I have enjoyed many good and eventful years with wonderful staff and clients. I have had to make some difficult decisions to ensure a prosperous future for the BankNordik consortium, and now the time has come for me to move on. BankNordik is a healthy business with talented staff and a very healthy customer base, which together with the new committee forms the basis of a promising future for the consortium.”

A great asset

Birita Sandberg Samuelsen, who heads the bank’s new committee, writes the following in the press release:

“Árni has been a tremendous asset to the BankNordic consortium and we are saddened by his decision to step down. We do, however, respect his decision, and we will now be working towards finding a suitable replacement.”

Ellefsen will continue in his CEO role until a replacement is found.

Read the Faroese versions of this article here and here.

More Faroese News in English.