http://www.thelocal.se/15864/20081122/
Lars G Nordström, President and CEO of the Swedish post office (Posten), has announced that he will forgo his salary.
He has been severely criticized in the media for his salary of 900,000 kronor ($106,204) per month, the equivalent of 45 postmen. Nordström responded on TV4's morning news programme on Saturday that he is prepared to forgo his entire salary.
"I am aware, as you have implied, that this is a hopeless discussion for me to conduct. I have therefore decided to forgo my salary, out of regard to Posten, Posten's employees, Posten's customers and myself, because I do not like the insinuation that I am greedy," he said to TV4.
TV4's presenter then asked Nordström if he plans to forgo his entire salary, to which he replied:
"Yes."
Lars G Nordström will therefore pay back any salary received since being appointed to the post as CEO in the summer and will be paid no further salary for the remainder of his employment at Posten.
The company has confirmed that the decision is entirely his own.
The salary awarded to Nordström is double that received by his predecessor Erik Olsson, according to Dagens Nyheter. Explained at the time by Posten's chairperson Marianne Nivert as it did not include any pension nor bonus entitlements.
However Lars G Nordström will not be feeling the pinch this Christmas as he receives almost five million kronor in annual pension from his time as CEO of Swedish state-owned bank Nordea. In addition he receives a total of 1.2 million kronor from directorships at Nordea and state-owned telecom company Telia Sonera.
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE
ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!
Post Office CEO to work for no pay
-
TrueBlueTerrier
- FORUM ADMINISTRATOR
- Posts: 72727
- Joined: 30 Dec 2006, 10:29
- Gender: Male
- Location: On my couch
Post Office CEO to work for no pay
All post by me in Green are Admin Posts.
Any post in any other colour is my own responsibility.
If you like a news story I posted please click the link to show support Any news stories you can't post - PM me with a link
My sharing of news articles should not be interpreted as an endorsement or condemnation of any particular viewpoint or the issues presented. I share them solely for informational purposes.
Any post in any other colour is my own responsibility.
If you like a news story I posted please click the link to show support Any news stories you can't post - PM me with a link
My sharing of news articles should not be interpreted as an endorsement or condemnation of any particular viewpoint or the issues presented. I share them solely for informational purposes.
-
baldrick
- EX ROYAL MAIL
- Posts: 5038
- Joined: 13 Sep 2007, 23:37
- Gender: Male
Post Office CEO to work for no pay
I wonder if :cfo will follow his example? 
I won't hold my breath.
I won't hold my breath.
-
F0zziebear
- MYSTERY MAN
- Posts: 637
- Joined: 31 Jan 2007, 23:45
Post Office CEO to work for no pay
If you vote Labour he'll soon be paying an extra 5% to the coffers. I wonder if he will defer his salary. Somehow I doubt this, and as the company's financial performance 1/2 year was looking good one assumes he and everyone else for that matter will be in line for a reasonable bonus end of year. Wonder how that will go down at the end of the year.
The only crumb of comfort for the average joe public is that inflation will come down well below basic pay increase next year so your income will rise in real terms and with the reduction from 17.5% to 15% there might be some hope on the horizon? I didn't say lots of hope ;-)
The only crumb of comfort for the average joe public is that inflation will come down well below basic pay increase next year so your income will rise in real terms and with the reduction from 17.5% to 15% there might be some hope on the horizon? I didn't say lots of hope ;-)