Benefits & Executive Compensation News

Swedbank’s Ousted CEO Gets $2.7 Million in Termination Benefits

Feb. 20, 2020, 4:04 PM

Swedbank AB paid its former chief executive officer roughly twice her salary last year after firing her amid a money laundering scandal.

Birgitte Bonnesen received 26.6 million kronor ($2.7 million) in so-called termination benefits in 2019, bringing her total compensation for the year to 30.7 million kronor, according to Swedbank’s annual report. Bonnesen’s total compensation in 2018 was 15.1 million kronor.

Swedbank’s board fired Bonnesen in March of last year after a police raid on the Stockholm-based bank’s headquarters and news that U.S. officials were investigating raised concerns that she was misleading the public about the dimensions of the dirty...

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