Criticism grows against Anders Nyren – Swedish newspaper Svenska Dagbladet

Dissatisfaction with Industry’s outgoing CEO Anders Nyrén is compact. He has previously been difficult to win the minority shareholders’ confidence, whether he has spoken out in his capacity as chairman of Handelsbanken or as CEO of Industrivärden. The strange saga of Pär Boman’s compensation has been keyed strengthened his shares.

– Anders Nyren associated with the old culture and it is only a matter of time before he is replaced. When there is a question most of Fredrik Lundberg, a major shareholder of Industrivärden, says Carl Rosén, CEO of the Shareholders’ Association.

Even Swedbank Robur is critical – if somewhat more cautious:

– We think it is worrying that Industrivärden Sphere on several occasions gone wrong in a number of questions. Now we hope that it is inspired and learn from what happened, says Marianne Nilsson, owner-manager and vice president of Robur.

She is backed by Mats Andersson, CEO of the Fourth Swedish National Pension Fund. Mats Andersson think it is extremely problematic if disclosure of the investment company has failed on several occasions.

It was just over a week ago that Anders Nyrén announced that Pär Boman would get a record salary as the new Chairman of Handelsbanken. Pär Boman would retain his CEO salary for two years and thus utkvittera 11.2 million per year. It would make him far Sweden’s best paid chairman.

Pär Boman would remain an employee of the bank. A very unusual solution, which runs counter to the Swedish model of corporate governance.

The criticism was massive. Both the AP funds, AMF and Swedbank Robur vented their displeasure over money roll and that a Chairman, who shall ensure all shareholders best, is to remain an employee of the bank.

But Anders Nyren waved away all opposition. He argued that the generous conditions were necessary for the successful and appreciated Pär Boman would stay. But it turned out to be a qualified truth. On Wednesday evening suddenly announced Pär Boman he declines the agreement and to the extra millions.

Now it quiet from Anders Nyrén. He sends word through his assistant that he has not some comments.

Peter Lundqvist, shareholder representative at the Third AP Fund believes that confidence Anders Nyrén is damaged.

– It is not the first time Anders Nyren questioned, there are other events where he has acted in a way that has led to criticism, says Peter Lundqvist.

Pension Giant Alecta was the only institution that defended the impugned agreement a week ago. Today, people are more self-critical:

– We were led to believe – rightly or wrongly – that it first introduced the replacement solution was important to reach agreement on the chairman question. When Pär Boman now decided to forego the unorthodox compensation structure, in favor of a purely fee, it strengthens our image further by him as a judicious leader, says Staffan Grefbäck, CEO of Alecta.