AP1 board fires CEO after breach of internal rules

The board of directors at Swedish pension fund AP1 has fired Johan Magnusson from his position as CEO. The decision is pinned on the fact that the CEO has breached internal regulations regarding the holding and trading of financial instruments. (To be updated)

Photo: PR / AP1

The Board of Swedish pension fund AP1 has decided to terminate CEO Johan Magnusson’s contract, the pension fund, which manages a total of EUR 32.6bn, writes in a press release.

According to the press release, the CEO has been fired following violation of AP1’s internal regulation regarding possession and trading of financial instruments. 

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