The AMF fund is jointly owned by the Swedish Trades Union Congress, LO, and the Confederation of Swedish Enterprise. LO Secretary General, Wanja Lundby-Wedin, who has been very critical of ”fat cat” bonus deals for Swedish company directors, was one of the board members. She claims she knew nothing of the deal, and the revelations led to calls for her resignation.
An investigation was then started to find out what exactly happened, and according to business paper Dagens Industri, the board were informed in an extra meeting Friday night. What those conclusions were have not yet leaked to the media.
Elmehagen himself says he welcomes discussions with the AMF board, and if they find that he has broken any contracts, he would be willing to pay back some of the money he earned.