Fertilizer CEO Acknowledges $15M Bribery Scandal

Norwegian-based, international fertilizer giant Yara International has finished an internal investigation confirming they paid millions of U.S. dollars’ worth of bribes to win contracts around the world. CEO Joergen Ole Haslestad acknowledged the problems by saying, “I apologize that the company seems to have done things it shouldn’t have done.”

The probe found evidence of “a number of unacceptable payouts totaling $15 million,” including those to Libyan partners, according to Agrimoney.com. Some of these payments equaled or exceeded the annual earning of chief executive Haslestad, who earns a combined remuneration of NOK 10,184,000 – or about $1.7 million.

“It is disappointing to confirm that unacceptable payments have been made from Yara,” Haslestad said.

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