High executive pay stirs up protests

It now only takes 21 work days for top executives in Norway to earn what’s considered to be the country’s average full-year salary of NOK 524,600 (USD 68,000). New figures outlining pay and benefits for the chief executives of Norway’s major companies show a widening gap that’s provoking some politicians and labour union leaders. A […]

Statoil boss gets a big raise

Eldar Sætre, chief executive of Statoil, was planning to retire when he turns 62 in February. Now Statoil’s board has offered to give him a big pay raise and a huge increase in retirement benefits if he’ll stay on. Sætre reportedly is now motivated to do so. “Eldar has done a very impressive job,” Statoil’s […]

Aker Solutions rewards executives

Aker Solutions is the latest Norwegian company to release financial reports that reveal what their own executives earn. Employee representatives had trouble accepting how the oil service firm’s chief executive could receive a 50 percent increase in his total compensation last year at a time when around 5,000 employees have lost their jobs, and those remaining have endured […]