Icelandic fishing giant Samherji is distancing itself from its former managing director in Namibia, Johannes Stefansson, after he made serious bribery allegations against the company.

Stefansson, now a whistleblower working with Nambian anti-corruption authorities, implemented bribe payments on the authorization of Thorsteinn Mar Baldvinsson, Samherji's CEO and biggest shareholder, according to allegations reported by the website of Icelandic bi-weekly newspaper Stundin.