Ericsson's Chief Compliance Officer Steps Down Amid FCPA Compliance Efforts
Swedish telecommunications giant Ericsson announced Feb. 28 that Laurie Waddy will step down as the company's chief compliance officer after nearly four years in the role. Waddy has stood at the center of Ericsson's compliance efforts amid alleged violations of the Foreign Corrupt Practices Act.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
The company announced in December it would extend the compliance monitoring program it established as part of its deal to settle FCPA charges (see 2212150022). The company is also being investigated over payments in Iraq that may have ultimately been paid to ISIS (see 2206100026).
Waddy will be replaced by interim Chief Compliance Officer Jan Sprafke, head of compliance for Europe and Latin America. "We thank Laurie for her contributions to Ericsson over the past several years building the Compliance function and program and wish her the best as she starts her next chapter," Ericsson President and CEO Borje Ekholm said. "The whole executive team remains focused on the key priority of embedding a culture of ethics and integrity into our business, which we believe is critical to our market leadership.”