CEOs in state-owned companies earn an average of NOK 2.55 million annually

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The average managerial salary in the 39 wholly state owned companies and enterprises owned by the Norwegian ministries is NOK 2.55 million, according to the Bergensavisen newspaper.


The newspaper has gone through the various departments’ own government budget proposals, and found the pay details, bonuses, allowances and pensions earned by all managers.

Three of the managers received salary, other remuneration and bonuses of more than NOK 5 million before taxes last year. The top two are in companies owned by the Ministry of Industry, Christian Rynning-Tønnesen in Statkraft, with NOK 5.83 million, and Joachim Høegh-Krohn in Argentum, with NOK 5.1 million.

‘We are concerned that manageral salaries in state owned companies must be competitive, but not payroll salaries. And emphasis should be placed on moderation,’ said Secretary of State, Lars Jacob Hiim of Høyre (H) at the Ministry of Industry.

Hiim emphasised that the boards in the companies themselves determine the salary of the CEO. He didn’t comment on the fact that the higher the CEO’s salary is, so too will the salaries of board members be raised.


©  NTB Scanpix / Norway Today

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