Lars Nyberg, former CEO of Swedish telephone company TeliaSonera, which is currently under investigation for potential corruption violations, has withdrawn his name as a nominee for re-election to the board of Autoliv. In connection with his withdrawal from nomination, Nyberg also will resign as chairman of the board, effective immediately.
Nyberg, who first joined the board of the automotive safety systems maker as a director in October 2004 and has served as chairman since December 2011, will continue to serve as a director until the 2014 Annual Meeting of Stockholders to be held on May 6. “Nyberg believes that continuing to serve as chairman would be inappropriate in light of his decision to not stand for re-election,” the company stated.
