Elcoteq's (elcoteq.com) chief executive resigned on Aug. 5, following a dispute with its top lenders. CEO Jouni Hartikainen stepped down after seven years at the helm of the contract electronics manufacturer. His decision followed a move by the embattled firm to apply for insolvency after a group of banks led by Danske Bank froze its accounts after Elcoteq missed a loan payment. "[Hartikainen's] ability to manage the company and to objectively safeguard the benefits of all the company's stakeholders became impossible due to the recent actions by the revolving credit facility lenders," Elcoteq (elcoteq.com) said in a statement.
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