The playground is across the Sverker Martin-Löf – Expressen

The playground is across the Sverker Martin-Löf – Expressen

Now, Sverker Martin-Löf play with their own money instead of with the company.

The playhouse in the SCA is over.

The Chairman of SCA and chairman of great owner, Industrivärden Sverker Martin-Löf, SCA’s CEO Jan Johansson and Industry CEO, Anders Nyrén had gotten the idea that they ran a cozy family business.

They had forgotten that it was one of Sweden’s largest company with approximately 40,000 employees. They had forgotten that the company’s assets is not theirs.

The last two months have Swedish newspaper Svenska Dagbladet made an excellent review of the Swedish Cellulose AB, the classic Swedish industrial company financial Ivar Kreuger formed already in 1929.

It turned out that the SCA did not tolerate the inspection. When powerful men will be drawn and their own bosses in danger ethics to be sidelined. They give each other high wage markup, certifies each family travel by private plane, gives family benefits, connive and shaking hands on it.

The concentration of power that cross-ownership between SCA and Industrivärden has led to is not useful nor the uncertainty that arises when it comes responsibility.

The shareholders began to grunt already when it was revealed how carelessly the trio have used the company’s private jet. A trip to New York 800 000 per person, to London for 500,000 dollars and a trip from Stockholm to Gothenburg 120 000 – anyone understand the idiocy of the travel expense.

Declaration Sverker Martin-Löf has given the exorbitant waste of corporate money is worth a separate chapter. He told Swedish newspaper Svenska Dagbladet:

– We believe it is important that the CEO and Group may be present physically in the whole of the international organization and has close contact with customers and business partners. This is so that in a good way follow current operations and evaluate various development opportunities.

sailing race Volvo Ocean Race, where SCA has its own boat named Team SCA has forced the sailing enthusiast Jan Johansson to take private jets to both Alicante in Spain to Cape Town in South Africa.

The Directors have gladly brought with them wives and children on trips by private plane to nice destinations such as Barcelona, ​​Dubai, Verona, Nice and Miami or to exciting sporting events like football championship in Kyiv or London Olympics.

The next layer of the audit showed that a hunting facility in Härjedalen had been renovated for SEK 100 million and was used extensively by Sverker Martin-Löf, who gladly went there in the company plane, alone with his hunting dogs. Or in the company of wife, children and grandchildren, and then send the empty back to Stockholm, a cost of approximately SEK 150 000.

To use a company’s private jet to lead quickly and efficiently get to important meetings are one thing, and might even be justified except from an environmental aspect, but to use the plane as a private airport taxi motion is entirely different.

The recent disclosure that Sverker Martin-Löf has secretly used his son as a financial advisor in several of SCA’s miljardaffärer emphasizes that reviewed after failure of ethics and morality. That he has opposed shareholder demands for an independent reviewer says only that it will be very interesting to see the results of the transparency.