Baugur’s Jon Asgeir under fire from former friend (again)

jon-gerald-sullenbergerFlorida-based Icelandic businessman Jon Gerald Sullenberger runs a company which exports American goods to Iceland; but he is probably best-known as the former friend and business partner of Jon Asgeir Johannesson (Baugur Group) who was star witness in the drawn out court cases against the Baugur boss following the pair’s falling out. Click here to read an older story about Sullenberger.

Several individuals and groups have been bombarding the email inboxes of Icelandic media companies recently trying to get their points across to the wider world: some are followed up on, others not. Below follows the latest of Jon Gerald Sullenberger’s many anti-Jon Asgeir emails, in whole. It does not represent the views of IceNews or its staff and we would be happy to publish a response from Jon Asgeir Johannesson (subject to the usual editorial standards).

Dear members of the media,

“Jon Asgeir Johannesson Iceland’s highest-paid civil servant!”

Tryggvi Jonsson was installed in Landsbanki to look after Baugur Group’s vested interests. Tryggvi was let go when this collusion was uncovered.

The board of New Landsbanki has decided to shun the will of the Icelandic government by delaying re-advertising the top positions until the autumn.

The British press is today reporting that the Landsbanki liquidation committee have agreed with Jon Asgeir, the biggest Baugur shareholder, that he can remain on the boards of the companies Baugur has investments in – and will be paid GBP 20,000 a month from the nationalised Landsbanki, which is today the owner of these shares.

Furthermore he will have a private car and access to a helicopter in the United Kingdom, to be paid for by the Icelandic taxpayer.

It is important to point out that Baugur is just an investment company which owns shares in British companies, run and controlled by OTHER individuals – individuals who can undoubtedly have a say at board meetings, as is to be expected.

It has recently come to light that Landsbanki does not plan to sell Baugur’s British assets in the next few years; meaning that Jon Asgeir’s personal profit from remaining in his position on the boards could run into hundreds of millions of kronur, of which his annual salary direct from the Icelandic state will be GBP 240,000. On top of this he will receive pay from each individual company for sitting on the board of directors, as is the way with publicly traded companies.

Jon Asgeir Johannesson is therefore the highest paid employee of the Icelandic state and will be paid around ISK 40 million per year from the nation, plus fringe benefits.

Jon Asgeir is therefore on a similar wage to the Icelandic Prime Minister and the Icelandic President…combined.

God bless Iceland!

Best Regards
Jon Gerald Sullenberger
Nordica, Inc

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