Spinnvill top salary in Coop – adressa.no

Coop Midt-Norway powerful CEO Torbjørn Skei earned NOK six million last year. In addition, an equally large sum was set aside for Skei’s pension agreement. In total, Skei’s salary and pension conditions amounted to more than NOK 12 million in 2023.

In contrast to competitors Rema 1000 and Norgesgruppen, Coop is a consumer-owned grocery chain. It is the members – i.e. Coop’s customers – who jointly own the business.

This is how Coop describes it his organization on its own website: “Our form of value creation is not about making a few people rich, but about creating value for the many.”

It is true that Coop shares the profit with its members. Coop Midt-Norge paid NOK 334 million in dividends and membership benefits to 275,000 members last year. This amounts to an average of NOK 1,200 per member.

But most of all raus is the co-operative with its own director. It is not only in stark contrast to the postulate of “sharing the values ​​with the many”, it also appears unmusical in an expensive time where many of Coop’s owners are turning over the krone to get the economy going.

On average, shop assistants in Norway earn NOK 380,000 a year. In recent years, their wages have increased by between two and three per cent a year. According to Nettavisen, Skei received a salary increase of ten percent just last year. In the period 2004 to 2020, he had an average salary increase of just over nine percent every single year.

It’s the boards which determines the terms of the senior manager. Coop points out that this is happening in a market with tough competition. Chairman Toril Valla of Coop Midt-Norge also shows Skei’s employment agreement from 1999. It is this which defines the company’s pension obligations towards Skei.

But in addition, year after year, the board has given the chief executive a salary development far above average. It is not suitable for a co-operative which was founded in its time to provide its members with goods at reasonable prices.