Additional information regarding Swedish Automobile NV supervisory board remuneration

Further to information we circulated last week concerning reports in Swedish media:

Last Thursday, we commented on the media headlines about raised remuneration to members of the Swedish Automobile Supervisory Board. In addition to what was said then, we can now clarify further:

The board members have not received any compensation since January 1, 2010. The new fee will not be paid until Saab Automobile has the entire business up and running again. An independent company was hired to make sure that the remuneration is appropriate and in line with what other similar companies provide their board members.

Related story: Saab Comments on recent media (related to board remuneration).

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8 Comments

  1. This was a bit unclear, I thought: “An independent company was hired to make sure that the remuneration is appropriate”. Hired when? Now, in order to review the remuneration after the fact, in light of the media reports? Or were they hired before the remuneration was raised, and the raise rate determined by their findings?

  2. Has it really been since Jan, 2010? That’s over a year and a half without pay! I had to read it twice to make sure it didn’t say Jan 2011. Doubt the media will bother reporting this.

    1. Board members typically don’t rely on board remuneration for their living.  It tends to be something they do out of interest, after regular hours.  But we have a small pair of boards and the responsibilities are shared by relatively few.

      1. Thanks for the clarification. I don’t operate in such circles so I didn’t know. I really hope the press surprises me and reports this fact.

  3. I’ll bet my life savings that the press will not report on this fact.  They’ll leave the readers with the wrong perception in order to save face.  This is pathetic, but probably true.  The press only wants to report the negative side of Saabs business dealings and will leave out anything positive.

  4. Hi Swade,
    it’s a pitty that this information haven’t been given last week, when all bad press about this matter arrived.

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