Another Icelandic Tycoon Apologizes Skip to content

Another Icelandic Tycoon Apologizes

Icelandic businessman Jón Ásgeir Jóhannesson, former CEO and chairman of Baugur Group and one of the main players of the Icelandic “outvasion,” wrote in a letter to Fréttabladid on Thursday that he had made mistakes and that he was sorry.

Jón Ásgeir Jóhannesson. Photo by Páll Stefánsson.

“I cannot describe with words how I feel because of the mistakes I have made and their consequences. I cannot take back my mistakes and I have to live with that,” Jóhannesson wrote.

“I can see clearly that I often lost sight of good values and many things that matter the most in life,” Jóhannesson added.

He said that looking back, he can now see that the financial system was always doomed to collapse and that in the fall of 2008 a financial storm finally blew the house of cards over. The time of self-deception and pipe dreams came to an end.

“I don’t have any money hidden away in offshore accounts. I promise the Icelandic nation that I will do everything in my power to make up for my mistake,” the tycoon vowed.

Click here to read about the apology of another of the outvasion’s main players.

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