Advertisement

AMF Pension reaches settlement with ex-CEO

TT/The Local
TT/The Local - [email protected]
AMF Pension reaches settlement with ex-CEO

The former CEO of Swedish pensions firm AMF Pension has agreed to reimburse his old employer following a bonus scandal that jeopardized the career of trade union chief Wanja Lundby Wedin.

Advertisement

Christer Elmehagen agreed in an out of court settlement on Tuesday to pay back the sum of 2.6 million kronor that he had moved from the company prior to an announcement to cut dividend rate payments to pensioners following stock market falls.

He has also agreed to return 6 million kronor of a pension payment worth more than 30 million kronor.

The decision to give Elmehagen such a generous pension was approved by Wanja Lundby Wedin, head of Sweden's Trade Union Confederation (LO), who also sits on the AMF board.

Elmehagen said it felt good to reach an agreement with AMF Pensoin and avoid a lengthy legal process.

"I want toable to move on and I think this is a very important step," he told news agency TT.

AMF said in a press release that the ex-CEO's generous pension was not in line with the board's intentions. But the company also conceded that the agreement it signed with Elmehagen had been open to interpretation.

"For this reason we have agreed to share the responsibility," AMF said in a statement.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also