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Slovenian gov't dismisses BAMC leaders due to excessive pay

Xinhua, October 6, 2015 Adjust font size:

Slovenian Prime Minister Miro Cerar announced on Tuesday his government's decision to dismiss the current president of the management board of the Bank Asset Management Company (BAMC), Lars Nyberg, and chief executive Torbjorn Mansson over allegations of excessive pay in the management board.

Nyberg was dismissed with immediate effect for breach of due conduct, after having failed to align executive pay policy to government-imposed rules despite requests by the Finance Ministry, Slovenian Press Agency (STA) reported.

The remaining non-executive directors will provisionally pick a new president among themselves, the STA report said.

Mansson was recalled for alleged serious misconduct. Finance Ministry State Secretary Metod Dragonja said the government recalled him as member of the board of directors, which in turn will relieve him of his duties as chief executive.

The remaining executive directors, the Slovenians Janez Skrubej and Ales Korsic, still enjoy the government's trust, Dragonja said.

Cerar said the decision affecting the two Swedish board members did not constitute political interference in corporate governance.

"On the contrary, we had to adopt these decisions today to ensure BAMC acted lawfully and transparently." he said. Enditem