Four Resign at Reykjavík Energy Invest Skip to content

Four Resign at Reykjavík Energy Invest

Four employees of Reykjavík Energy Invest (REI), three of them managing directors, have handed in their resignations. They were allegedly tired of Reykjavík City council members not agreeing on what REI’s future projects should involve.

According to Kjartan Magnússon, councilmember and chairman of the board of Reykjavík Energy (OR), REI’s mother company which is owned by Reykjavík City, the four employees will continue to work for REI until a termination agreement has been reached, Morgunbladid reports.

Magnússon said there are nine people working for REI in Iceland, but since REI is a branch within OR the resignations will not have a significant impact on REI’s operations. Projects are in good hands, Kjartansson claimed, although employees of OR may have to take over some of them.

Magnússon dismissed claims that the resignation could lead to the end of REI. “The projects are not in danger and [the employees who are leaving] were dedicated to their work and made sure that their resignations would neither damage their projects nor the company.”

REI was formally founded on June 11 last year around OR’s overseas projects. The foundation of the company triggered heated debates, causing the majority coalition within Reykjavík City to split last fall. Recently, REI’s CEO was made redundant.

Click here to read more about the debate surrounding REI.

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