Higher fees at Lundin Petroleum
It is proposed to award Ian Lundin, Chairman of Lundin Petroleum, SEK 1 million when the oil company’s directors’ fees are raised. That is an increase of 25% on last year, writes Dagens industri.
There has been a great deal of controversy surrounding Lundin Petroleum’s business in Africa, but the compensation programmes are also a subject that has been arousing strong feelings for several years, writes Dagens industri.
The nominating committee is now proposing higher remuneration after fees have remained unchanged since 2007. It is “reasonable to raise the remuneration to reflect current market practice,” writes the nominating committee, according to Dagens industri.
It is proposed that Chairman Ian Lundin will receive SEK 1 million, which is SEK 200,000 more than last year. For the other board members, apart from the CEO, the committee wishes to raise remuneration by SEK 50,000 to SEK 450,000.
The nominating committee has comprised: the Second Swedish National Pension Fund (andra AP-fonden), Robur, Afa Försäkring, Ian Lundin and board member Magnus Unger.
AMF has for two years declined to take part in the work of the committee, as the pension company does not consider that it can influence the work. The pension giant has expressed views concerning Lundin Petroleum’s compensation programme, and has again begun to reduce its holdings, writes Dagens industri.
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
