Nordea CEO’s Pay Gap With Staff Doubled Since 2019
- Vang-Jensen now earns about 40x more than average employee
- Profitability has risen significantly since CEO took over
Photographer: Nina Kaverinen/Nordea Bank Abp
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Nordea Bank Abp chief executive officer last year earned about 40 times more than the bank’s average employee, up from about 20 times for 2019, the year Frank Vang-Jensen took the job.
Vang-Jensen saw his total pay grow 4.2% in 2023 to €3.66 million ($3.97 million), the bank’s remuneration report showed on Monday. That compared with an increase of just 0.6% for the group average. That added a fourth consecutive year in which the gap widened between what the CEO makes and what most everyone else takes home.