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Internal scandal of impropriety rocks Stockholm School of Economics

Friday, 19 April 2013

Stockholm school of Economics has been rocked by an internal scandal that could over spill and tarnish the school's reputations.

A member of the board of the school sent an internal letter to Justin Jenk, CEO of the School's training company, and called him to resign so as to keep the schools reputation in tack. This comes after Justin Jenk is said to have received a million Krona fine for using inside information in his past assignment.

Therefore, a former board member has sent the internal letter to Jenk calling for him to be removed from office in order to protect the school's reputation, reports Swedish business daily Dagens Industri.

Stockholm School of Economics is one of Sweden's most prestigious schools, and it is safe to say that the school is currently being rocked by internal strife. In the line of fire is the CEO of the School's Executive educational services, IFL Executive Education, Justin Jenk.

Justin Jenk as president of the IFL, also serves on the school's senior management board, but now is accused of having a dark part of her past. Justin Jenk came recently from a job at the European Resolution Capital Partners in the UK, before becoming CEO of IFL in October 2012.

Now it has emerged that in his previous job as CEO of a Greek food company he had made illegal insider trading which landed him a fine of 350,000 euros from the Greek FSA. The Greek company he was president of is also reported to have been convicted of crimes against EU competition rules.

That background is considered improper for the head of the company that will sell management-training programs with the School's brand, believes the former Director Anders Rydin, who in a letter to the IFL, the Board requests the end of Justin Jenks position as CEO.

Anders Rydin who has a background as CFO of SEB and investment company, Investor as well as being president of IFL on two occasions. He was a member of the IFL's board when Justin Jenk was recruited but had to quit in April after criticizing Jenk.

"I think it is important that the School's larger board be clear about the individual who leads the IFL" he said to the paper.

By Scancomark.com Team

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