In October 2007 a new majority was formed on the council, consisting of members of the Progressive Party, the Social Democratic Alliance, the Left-Greens and the F-list (liberals and independents), after controversy regarding REI, a subsidiary of OR, the city's energy company. However, three months later the F-list formed a new majority together with the Independence Party. Ólafur F. Magnússon, the leader of the F-list, was elected mayor on 24 January 2008, and in March 2009 the Independence Party was due to appoint a new mayor. This changed once again on 14 August 2008 when the fourth coalition of the term was formed, by the Independence Party and the Social Democratic Alliance, with Hanna Birna Kristjánsdóttir becoming mayor.