Kaupthing Bank announces that the Icelandic Financial Supervisory (IFSA) has decided to take on the powers of Kaupthing Bank's shareholders' meetings. Furthermore, the board of directors has resigned. In addition, the IFSA has appointed a receivership committee to assume the powers of the board of directors with immediate effect. The members of the receivership committee are Finnur Sveinbjörnsson, Knútur Thórhallsson, Bjarki H. Diego, Gudný Arna Sveinsdóttir and Steinar Thór Gudgeirsson. The receivership committee has asked Hreidar Már Sigurdsson to remain as CEO of Kaupthing Bank hf. and be responsible for daily operations.
Icelandic FSA takes over Kaupthing's operations
| Source: Kaupthing Bank