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Nordea has made a decision :
Board of directors of utility company gets more salary

Despite political opposition, the board of directors of Odsherred Forsyning has adopted higher fees in the company's three water companies.
23. DEC 2024 14.30
Administration
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ODSHERRED: The board of Odsherred Forsyning's water companies will receive a temporary pay raise to accommodate the extraordinary workload during the reconstruction. This is clear after the boards met on Wednesday evening, writes Sjællandske Nyheder. The change will come into effect on 1 January 2025 and will apply until 31 December 2025.

The decision is justified by the need to ensure "fair compensation" for the extensive work associated with the board's tasks.

- The board is aware of the signal value, but the workload, both in terms of meetings and complexity, is unusually high. We are all working hard and dedicatedly to find the best possible solutions for the supply's customers, says Susan Münster, chairman of the board of Odsherred Forsyningsservice and the water companies.

Political skepticism

The proposal has otherwise attracted great criticism from Odsherred Municipality, where the city council advised against "such sharp increases in the board's fees".

The higher fees made their way into the company when Nordea, to the surprise of many, took over the management of the scandal-hit utility company after significant budget overruns back in November.

In practice, this meant, among other things, that the parent company Odsherred Forsyning and the subsidiary Odsherred Varme got new chairmen from Nordea. It also meant that Odsherred Municipality was left without influence in the otherwise municipally owned company, where it - in addition to being the owner of Odsherred Forsyning - has almost as much money to its credit as the banking giant.

Since the new board took over the keys, fees have skyrocketed in both Odsherred Forsyning and Odsherred Varme - and this despite the fact that the company is undergoing reconstruction.

And from January 1, the board of directors of the utility's three other water companies, Odsherred Spildevand, Odsherred Vand and Odsherred Tømning, will be remunerated accordingly.

This also means an annual additional expense of DKK 780,000, as it is more than triple the previous level that has been adopted.

 

 

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https://www.doi.dk/en/havenergi/artikel/bestyrelse-i-forsyningsselskab-faar-mere-i-loen

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