Swedish CEOs worst paid in Europe

The board members of large Swedish companies are the worst paid in Europe, despite a 23 percent increase in their fees from 2003 to 2005.

Wages for Swedish CEOs are also at the bottom of the European pile, according to a study by executive search firm Heidrick & Struggles.

German CEOs top the payment league in a European comparison, with the average rate for wages and additional benefits amounting to 22 million kronor ($4 million). The equivalent amount for Swedish CEO’s is 9 million kronor.

Sweden does however come out on top when it comes to the proportion of women represented in the boardrooms of major companies.

Women constitute 21 percent of the board members in large Swedish firms. This is in stark contrast to Portugal, where just one percent of board members are women.