Folketrygdfondet believes that the extent of the compensation the former CEO has received is unreasonable, writes E24.
– We have agreed a meeting with the company over the summer where we will, among other things, discuss the company’s executive salary schemes, says fund manager Kjetil Houg.
Folketrygdfondet is the third largest shareholder in Norwegian and owns 6.9 per cent of the shares in the company.
– We expect that the total scope of salary and remuneration will not involve an unreasonable transfer of values from shareholders to senior executives. We voted against the executive pay scheme at the general meeting, says Houg.
Schram was replaced as CEO by Geir Karlsen on Sunday 20 June.
In retrospect, it became known that the duo received eleven million kroner each in May to ensure that they did not leave the company when it was under reconstruction.
In addition, the other executive vice presidents of the company received a bonus of NOK 8 million – a total of NOK 30 million. The bonuses are in addition to other bonuses and were decided by the previous board, which was replaced on 4 June.
Minister of Trade and Industry Iselin Nybø (V) believes that Norwegian has shown poor judgment in the case. Last year, she imposed a ban on bonus payments in the company, which then had major financial problems, as a condition for obtaining a government-guaranteed loan. According to the government, the deadline expired on May 26 this year.
(©NTB)
– .
