Directors called into meeting to discuss management salaries

Minister of Finance and Trade, Trond Giske, has invited the directors of the companies in which the Norwegian government own shares or stocks to a meeting to discuss management salaries.

Giske wishes to talk to the directors about showing moderation when it comes to their salaries. Telenor, Hydro and the Kongsberg Group are among the companies that have received invitations.

"We will talk to them about salary development," Giske tells Dagens Næringsliv. "Government companies should not be in the lead when it comes to management salaries, or it may cause negative ripple effects for other wage settlements," he explains.

The minister's goal is to keep the increase in management wages at the same level as the general salary development.

"I can confirm that we haven't succeeded. I have had to be called in for questioning by the Standing Committee on Scrutiny and Constitutional Affairs myself, as a result of high salaries," he admits. "I am just doing the job I have to do."

Giske has also asked the companies to inform him of any big sales that are in the works. The government is a significant owner of Norwegian businesses, and has a negative control of approximately 56 percent at the Oslo Stock Exchange.


Please provide full Credentials Infomation
Banner 468 x 60 px