New Chairs Chosen for Iceland’s Kaupthing and Glitnir Skip to content

New Chairs Chosen for Iceland’s Kaupthing and Glitnir

Minister of Finance Steingrímur J. Sigfússon has asked two individuals to become the new chairpersons of the boards of the state-run banks New Kaupthing and New Glitnir and they are likely to be formally appointed this week.

Minister of Finance Steingrímur J. Sigfússon. Photo by Páll Kjartansson.

“I hope this matter can be carried out early this week,” Sigfússon told Fréttabladid, although he would not reveal their identities for the time being, explaining that, “They need some time to think about it.”

The new chairpersons will replace Magnús Gunnarsson, who served as chairman of the board of Kaupthing, and Valur Valsson, former chairman of Glitnir, who have both handed in their resignations, effective immediately.

Sigfússon was subject to considerable criticism by the opposition in Iceland’s parliament last week for the situation of the banks’ senior managements.

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