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Golden handshake for sacked pharmacy chief

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Golden handshake for sacked pharmacy chief
15:32 CET+01:00
Stefan Carlsson, CEO of Sweden's state-run Apoteket pharmacy chain, is to receive a 5.4 million kronor ($740,000) severance payment after being asked to leave his post in August of this year.

Citing the "new demands" posed by a recently privatized pharmacy market, Apoteket's board has already begun recruiting a successor.

"I accept that it is time for somebody else to take over," said Carlsson in a statement, adding that he had enjoyed the eleven "fantastic years" spent at the helm of an organization that until recent months had no high street competitors.

Apoteket chairman Christian W Jansson told news agency TT that Carlsson had been asked to leave and was thereby entitled to a redundancy package.

According to Apotoket's most recently published annual report from 2008, Carlsson would receive the eqivalent of two years' salary if pushed out by the board.

Calculated on the basis of his 2008 salary of more than 2.7 million kronor, Carlsson's total severance pay is set to come in at just over 5.4 million kronor.

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