Øyvind Eriksen has been working for the past 10 years as chief executive of Aker, Norwegian industrialist Kjell Inge Røkke’s stocklisted investment firm. That’s also made him the best paid CEO of all companies on the Oslo Stock Exchange, reports newspaper Dagens Næringsliv (DN).
Eriksen, age 54, received executive pay equal to NOK 17.3 million last year, according to the new annual report for Aker. On top of that came a bonus of NOK 11.3 million, for a total pay package of NOK 28.6 millon (USD 3.4 million).
Part of that is tied to how shares in Aker hit a new high of NOK 750 during the course of 2018. Aker’s share price has since gone a bit up and down, settling at around NOK 680 when the annual report came out last week.
Even though Norwegian industrial firms and other employers in Norway are constantly calling for moderate pay demands from workers, Eriksen’s executive pay hike represented around a 10 percent increase over his pay package in 2017.
Eriksen, who survived thyroid cancer a few years ago, is educated as a lawyer at the University of Oslo and was a partner at Oslo law firm BAHR when Røkke recruited him to his industrial empire 10 years ago. Eriksen has served as chairman of oil company Aker BP, offshore and oil service firm Aker Solutions, Aker Capital, Aker Energy, Aker Kværner Holding, and several other firms controlled by Røkke.
He’s also become active in raising funds for cancer treatment and research, and has been behind construction of a new clinic building at the run-down Radium Hospital in Oslo that serves cancer patients from all over the country.