Saab defends big raise in board payments while the company bleeds to financial extinction


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Thursday, 18 August 2011
The fact that the Board of Saab Automobile’s holding company, Swedish automobile had a sharp increase in their pay in May while the company has been public crying of lack of money to finance in value chain is being defended by Saab's Chief Information Officer, (CIO) Eric Geers.

“The payments were raised to be in line with the much more responsibilities board members in the then Saab automobile had and to bring the payments to be consistent with the levels in which new members have received. The board does a tremendous job to ensure Saab's future, according to the CIO.


Asked what he thinks about the timing, given that Saab in May had gone into crisis by stopped production and unpaid accounts payable?
“I understand that you can make a link and comment on the timing, but the question had been on the agenda before. Of course, all these things were better than if we only focused on building cars and making a profit,” said Eric Geers.

The board consists of three members: Chairman Hans Hugenholtz, and the members Maurizio La Noce and Alexander Roepers. According to excerpts from the Dutch Chamber of Commerce records, which the Swedish news agency, TT received, there have been no defections from the Board after the AGM.

“It has been erroneously described that only the chairman is still there, but it is wrong. All the members are still there,” says Eric Geers.
By Team

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