Swedish telecommunications big Ericsson AB introduced Wednesday its addition of Scott Dresser as new main authorized officer and head of team function authorized affairs and compliance.
Dresser will acquire about as of March 21 from Ericsson’s head of lawful Xavier Dedullen, who leaves the position immediately after four years with the Stockholm-primarily based enterprise
“Scott joins us at a crucial time and will perform a vital function operating with me, our board, and the rest of our group as we proceed to improve and improve the firm,” reported Ericsson CEO Börje Eckholm in a statement. “We demand from customers that our company be carried out responsibly and with integrity across its worth chain.”
Ericsson is now grappling with the fallout from a February disclosure by Eckholm that the corporation may have designed payments to the terrorist business regarded as ISIS in purchase to achieve access to transportation routes in Iraq.
The admission lifted queries about Ericsson’s company governance and led its stock price to plummet as some traders sued the corporation and its major executives.
Previously this thirty day period, the Justice Section accused Ericsson of breaching a $1 billion deferred prosecution arrangement the company agreed to in 2019 over its operations in Iraq and other nations around the world. Ericsson, which was represented by Simpson Thacher & Bartlett on that arrangement, experienced presently been accused by the Justice Division last yr of becoming out of compliance with the accord.
Dresser, who will be based in the U.S., stepped down before this year as group typical counsel for Veon Ltd., an Amsterdam-primarily based telecommunications enterprise that final 12 months agreed to the $970 million sale of its mobile community towers in Russia. Veon, previously acknowledged as VimpelCom, employed Dresser in 2014.
He played a essential part in Veon’s $835 million international bribery settlement with U.S. prosecutors in 2016 that was 1 of the major of its sort. Dresser didn’t respond to a request for comment about his shift to Ericsson.
Dresser in a statement referred to as Ericsson a “global leader” in “advancing the upcoming of communications.” He mentioned he’s on the lookout forward to operating with Eckholm at a corporation with the “highest standard of corporate governance and compliance.”
Eckholm claimed Dresser will support Ericsson as it “continues its cultural transformation, maximizing its governance, compliance, and controls.”
The enterprise didn’t answer to a ask for for remark about its in-household lawful and compliance group. Ericsson in 2019 employed former Dechert litigator Laurie Waddy to be its chief compliance officer. It recruited Rebecca Rohr previously this calendar year to provide as its Reston, Va.-primarily based head of company and authorities investigations.
Rohr, a previous Justice Office lawyer in Washington, most recently served as a vice president of anticorruption, international trade, and ethics and compliance for the Hewlett Packard Business Co. She joined Ericsson in January, according to a concept posted to Rohr’s LinkedIn profile.
Dedullen, a former Sullivan & Cromwell associate who joined Ericsson on April 1, 2018, is set to step down March 20 as authorized chief and corporate secretary. He will continue to be with the corporation for a transition period of time.
Dedullen “played an significant role” in serving to the enterprise “establish firmer foundations for the authorized, compliance, and corporate investigation functions,” Ericsson reported.