Renegotiated terms for Group Management in TeliaSonera
- 2010-04-19 15:45 UTC
Due to the resolution of the Annual General Meeting regarding new Guidelines for remuneration to the executive management, the terms of remuneration for Group Management have been renegotiated.
The base salary for the CEO and the other eight members of Group Management, who were previously eligible for annual variable pay as part of their total remuneration package, has been increased by an amount of 30 percent. This amount will not be included in the pensionable salary. The annual variable pay to the CEO, EVP and to the other members of Group Management was previously capped at 50 percent of the base salary.
“I am pleased that the Board of Directors and Group Management together have managed to resolve the situation that arose as a result of the AGM decision in a constructive way. We have reached an agreement which is acceptable to all parties involved and where the cost for TeliaSonera will be lower than the average total variable pay over the past few years. We can now leave this issue behind us and focus on the business, which is good,” says Anders Narvinger, Chairman of the Board.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities
Markets Act and/or the Swedish Financial Instrument Trading Act. The information was
submitted for publication at 5.45 CET on [April 19, 2010.