Minister demands explanation from Norwegian after news of millions in bonuses to top management

Iselin NybøPhoto: Gorm Kallestad / NTB
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Minister of Trade and Industry Iselin Nybø (V) demands a statement from Norwegian on the million-bonuses that were paid to the company’s top management.

According to newspaper E24, Nybø is particularly interested in knowing whether the bonuses of around NOK 30 million were paid out before or after the state’s ban on bonuses expired.

According to the Minister of Trade and Industry, the ban applied until May 26 this year. According to Norwegian, the bonuses were paid out in May – but the company has not said anything about the exact date. 

“We have not been informed about or asked to give our consent to bonuses to senior employees while the company used the state’s loan guarantee scheme,” Minister of Trade and Industry Iselin Nybø (V) noted.

Demands explanation

On Thursday, therefore, the Minister of Trade and Industry sent a letter to Norwegian’s board via the Ministry of Trade and Industry’s legal adviser, the law firm Wiersholm, demanding answers to several key questions in the bonus case.

Norwegian top managers Jacob Schram and Geir Karlsen were paid NOK 11 million each in bonuses in May, while the rest of the management team received nine months’ salary in bonuses.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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