business

Anger over big Electrolux bonuses

The new CEO of Electrolux will be getting paid over US$ 10 million next year - something that has caused anger among unions and major shareholders.

Broadsheet Svenska Dagbladet writes that the reason for the high pay for Keith McLoughlin, who will be taking over as the new boss of the Swedish white goods maker, is a large bonus, as well as a massive 'one-time payment' ordered by the company's board.

Carina Lundberg Markow of the insurance company Folksam, which is an investor in Electrolux, says that "It is completely ridiculous to see how certain CEOs are glorified and over-valued.".

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