Sigurd E. Thorvildsen (54) has been very successful in managing one of Norway's largest family fortunes. In 2018, he joined almost 70 million Norwegian kronor as CEO of the family-owned investment company Awilhelmsen in Aker Brygge, writes Finansavisen.
This raises the total salary and pay package of top management to almost NOK 180 million in the last three years or about NOK 60 million on average. This makes him one of the highest gasstars in the country.
Awilhelmsen is based on shipping, but today it is best known as a cruise operator and commercial property. The company also owns nearly half of the electronics giant Power, formerly Expert.
Thorvildsen manages the great values of the descendants of shipowner Anders Wilhelmsen. Today, the company is owned by the third and fourth generation.
The gold calf of the empire is owned by the group of cruise giant Royal Caribbean Cruiselines (RCCL). With the participation of RCL of today around US $ 120, the equity adjusted to the value of Awilhelmsen is more than US $ 35 billion
Thorvildsen has a pay that is largely performance-based and depends on long-term value creation.
'Senior executive compensation consists of a fixed salary, a performance-oriented salary, and a stock-based incentive program. The incentive scheme gives management a cash payment entitlement equal to the gain that would have arisen from having a specific number of shares from the date the allocation occurs until the date rights are used, "says one previous annual report.
In the equation for 2017, Thorvildsen was listed with an income tax of NOK 54.7 million and a capital of NOK 52.7 million. He paid NOK 25.5 million in taxes.
Salary of profit and salary
Awilhelmsen ended a pretax profit in 2018 of NOK 729 million and an operating profit of NOK 241 million, well above the previous year, Finansavisen wrote.
Thorvildsen earned 69 million Danish crowns last year, 53 million in 2017 and 58 million in the previous year. According to an overview made by DN, Thorvildsen was Norway's highest-paid leader in 2016.
Awilhelmsen began as a traditional shipping and dry cargo company in 1939.
Since then, the group has been in and out of ships and now positions itself as a new player in the market for large oil tankers.
The jointly-owned joint venture company Awilhelmsen is made up of senior owners Arne and Gjert Wilhelmsen. The property has long been transferred to the next generation and partly to the grandchildren.
In the fall of 2015, Anders Christian Wilhelmsen and his three brothers sold half the family's shares in Awilhelmsen and thus released a billion crowns for new investments.
Arne Wilhelmsen and his sons Arne Alexander, Bent Christian and Peter Preben Wilhelmsen own the majority of the shares. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using the link, which leads directly to our pages. Copying or other forms of use of all or part of the content may only occur after written permission or as permitted by law. For more terms, see here.