Several of the top executives at the pressured airline Norwegian received a previously unknown bonus of tens of millions of kronor this spring, Norwegian reveals. E24. Representatives of the unions call the payment ”disgusting” and ”tone deaf”.
The new and previously secret bonus was paid in May due to Norwegian being saved from bankruptcy, the business newspaper writes. E24.
The recently fired CEO Jacob Schram and Geir Karlsen, who took over the CEO position after being CFO, have both been paid a bonus of a double-digit million amount, which is referred to as a "retention bonus".
The details will be known when the company releases this year's annual report, which will not be made public until spring 2022, but the bonus is confirmed by several sources, including former chairman Niels Smedegaard. He adds that several other executives have received smaller bonuses.
Norwegian has during The pandemic has reduced the workforce from 10,000 to 2,000, while also shutting down all long-distance operations. The bonus program has therefore led to major reactions from the unions.
”"I was furious when I saw the news last night. It's like getting a slap in the face. It's so distasteful," Rene-Charles Gustavsen, chairman of the Norwegian Cabin Association, told E24.
Alf W. Hansen, head of the Norwegian Pilot Union, calls the whole thing ”tone deaf” considering that thousands of employees have been forced to leave the company.
Jacob Schram, who was forced to resign as CEO on Monday, has a base salary of 7 million Norwegian kroner plus possible options and bonuses. Dagens Næringsliv previously reported that he had proposed a parachute of 18 months' salary if he does not find a new job.
Source: di.se
