Investor boss gets big pay packet
TT/The Local - [email protected]
Published: 9 Mar, 2009 CET.
Updated: Mon 9 Mar 2009 16:51 CET
The chief executive of Investor, the holding company of the Wallenberg family, received a pay packet worth 15.4 million kronor for 2008, despite the company posting a loss of 37 billion kronor.
Börje Ekholm's basic salary stood at 8.3 million kronor for 2008. This sum was supplemented by a bonus of 2.7 million kronor and a 4.4 million krona payment from Investor's long-term programme for share related rewards.
In 2007, Ekholm was paid a total of 15.4 million kronor.
News of the reward comes at a time when executive pay is a hot political issue. Unions and ministers have called for top businesspeople to show restraint at a time of rising unemployment and economic contraction.
Investor's net asset value fell by 23 percent last year, which meant that Investor outperformed the market as a whole, the company pointed out in a statement.
The company is a major owner in Ericsson, SEB, Electrolux and Atlas Copco.
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Börje Ekholm's basic salary stood at 8.3 million kronor for 2008. This sum was supplemented by a bonus of 2.7 million kronor and a 4.4 million krona payment from Investor's long-term programme for share related rewards.
In 2007, Ekholm was paid a total of 15.4 million kronor.
News of the reward comes at a time when executive pay is a hot political issue. Unions and ministers have called for top businesspeople to show restraint at a time of rising unemployment and economic contraction.
Investor's net asset value fell by 23 percent last year, which meant that Investor outperformed the market as a whole, the company pointed out in a statement.
The company is a major owner in Ericsson, SEB, Electrolux and Atlas Copco.
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