The Wrong Thing
 TeliaSonera
grabs more than one million dollars from our team each month.
TeliaSonera seized more than EUR 12.8 (USD 19.0) million in
2007. TeliaSonera holds more than EUR 85.0 (USD125) million
earned by our team.
Why does a respected Nordic company seize earnings and assets it
does not legitimately own? Why do Sweden and Finland defend
TeliaSonera’s actions?
Our US team worked hard. We made good things happen. We found
ways to create business opportunities and gains of EUR 1.16
billion in the United States for Nordic government controlled
Sonera. We gave our Nordic partners great respect and great
value. We did the “Right Thing.” We earned the promised 3% share
of the fruits of our labors.
Our Nordic partners gave us no respect and no opportunity to
share in the great value we created. Sonera’s Management and
Board of Directors worked hard to create promised incentive
schemes for each of its business units. They sought advice and
guidance from outside experts. Following more than 18 months of
debate and delay, they established retroactively priced
incentive schemes for three money-losing units. And they
belatedly forced our money-winning unit into an incentive scheme
that gave us no opportunity to share in the fruits of our
labors.
Our team found ways to respect our Nordic partners and add great
value. Our Nordic partners got all the benefits of our
leadership and hard work in the milieu of US policies and
practices. Our team got the adverse impact of Nordic delays and
mistakes within a milieu of restrictive Nordic policies,
practices, and politics. Today TeliaSonera’s
controlling shareowners, the Governments of Finland and Sweden
refuse to compel TeliaSonera to protect our team’s
constitutional rights and to honor their commitments as members
of the Organisation of Economic Co-operation and Development.
Moreover, TeliaSonera and these Governments conveniently ignore
their claimed commitments to strong moral values and high
ethical standards.
Why? Why did our trusted Nordic partners claim our share of the
fruits of our labors? Why does TeliaSonera continue to hold and
earn on assets it does not legitimately own? Why do the
governments of Sweden and Finland, support Sonera’s decision to
expropriate the fruits of our labors?
We see three major reasons why it is so hard for Nordic leaders
to show our team the respect, consideration and fair treatment
we earned. First, there is a strong bias against US style
incentive schemes in Finland and Sweden. Second, Nordic leaders
seek to avoid criticism for retroactively implementing incentive
schemes that some politicians claim gives away the assets of a
state-owned company. Finally, Nordic leaders refuse to accept
accountability for their delays, poor decisions, and mistakes.
We strongly object to all efforts to penalize US citizens for
Nordic delays, mistakes, policies, and prejudices. We demand
that the Government of Sweden cease its support of property
seizures that violate our rights. We demand that Finland, Sweden
and the United States work proactively to protect our rights
under OECD Guidelines for Multinational Enterprises.
And we demand that TeliaSonera give us the full protection of
its Code of Ethics. We seek to
resolve this situation through respectful and considerate
negotiations. TeliaSonera, Finland and Sweden refuse to discuss
this situation. TeliaSonera’s Audit Committee has not responded
to our complaint that the Company has failed to comply with its
Code of Ethics. The Government of Sweden has
refused to provide a copy of its annual OECD compliance
audit/review. We are seeking assistance from US Government
agencies to resolve this matter. |
