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Sigurd E. Thorvildsen (54) is very successful in managing one of Norway's largest family fortunes. In 2018, he came to nearly NOK 70 million as CEO of the family investment company Awilhelmsen of Aker Brygge, writes Finansavisen.
This brings the total executive salary to around NOK 180 million over the last three years, or about NOK 60 million on average. This makes him one of the highest gazstars in the country.
Huge values
Awilhelmsen is based on shipping, but is best known today as an operator of cruises and commercial buildings. The company also owns nearly half of the power electronics giant, formerly Expert.
Thorvildsen manages the great values of the descendants of the ship owner Anders Wilhelmsen. Today, society belongs to the third and fourth generation.
The golden calf of the empire belongs to the group, the giant cruises Royal Caribbean Cruiselines (RCCL). With a share of about $ 120 owned by RCL, Awilhelmsen 's adjusted equity is greater than NOK 35 billion.
Thorvildsen's compensation is largely performance-based and depends on long-term value creation.
"Senior executive compensation consists of a fixed salary, a results-based salary and an equity-based incentive program. The incentive system gives management a right to a cash payment equal to the gain that would have been generated by the possession of a specific number of shares from the date the grant was made to the date of use of the rights ", indicates a previous annual report.
In the 2017 equation, Thorvildsen was listed with an income tax of NOK 54.7 million and a capital of NOK 52.7 million. He paid 25.5 million NOK in taxes.
Profit and salary jump
Finansavisen concluded that in 2018, Awilhelmsen posted a pre-tax profit of NOK 729 million and an operating profit of NOK 241 million, up sharply compared with the previous year.
Thorvildsen earned 69 million DKK last year, 53 million NOK in 2017 and 58 million the year before. According to a DN survey, Thorvildsen was Norway's highest paid leader in 2016.
Awilhelmsen started as a shipping and dry goods transport company in 1939.
Since then, the group has engaged in shipping and has positioned itself as a new player in the large tanker market.
Sold half
The joint family company Awilhelmsen is created by the main owners Arne and Gjert Wilhelmsen. The property has long been transferred to the next generation and in part to his grandchildren.
In the autumn of 2015, Anders Christian Wilhelmsen and his three siblings sold half of the family's shares in Awilhelmsen and released a billion crowns for new investments.
Shipowner Arne Wilhelmsen and his sons Arne Alexander, Bent Christian and Peter Preben Wilhelmsen hold most of the shares. (Conditions)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using the link that leads directly to our pages. Copying or other forms of use of all or part of the content may only take place after written authorization or as permitted by law. For other words, see here.
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