Investor boss gets big pay packet

The chief executive of Investor, the holding company of the Wallenberg family, received a pay packet worth 15.4 million kronor for 2008, despite the company posting a loss of 37 billion kronor.

Börje Ekholm’s basic salary stood at 8.3 million kronor for 2008. This sum was supplemented by a bonus of 2.7 million kronor and a 4.4 million krona payment from Investor’s long-term programme for share related rewards.

In 2007, Ekholm was paid a total of 15.4 million kronor.

News of the reward comes at a time when executive pay is a hot political issue. Unions and ministers have called for top businesspeople to show restraint at a time of rising unemployment and economic contraction.

Investor’s net asset value fell by 23 percent last year, which meant that Investor outperformed the market as a whole, the company pointed out in a statement.

The company is a major owner in Ericsson, SEB, Electrolux and Atlas Copco.