Early departure for Telenor chief?

Telenor's high-profile managing director, Tormod Hermansen, is reportedly thinking about resigning his position and taking over the chairman's seat on the company board of directors.

According to the newspaper VG, the decision could come as the result of board chairman Eivind Reitan's decision to resign from the Telenor board to take over as chief executive of Norsk Hydro. VG reported that Mr. Hermansen, 61, had already been planning to hand over the daily responsibility of running Telenor to someone younger. The sudden opportunity for Mr. Hermansen to be chairman of the board could speed the generational shift, the newspaper reported.