Käo: Sandor Liive’s salary should be doubled13.06.2012, 16:00
The supervisory board of Eesti Energia, Estonia’s state power company, has rejected the proposal made by supervisory board that the salary of CEO Sandor Liive should be doubled.
Käo has proposed that Liive’s salary should be 20,000 euros a month, but the proposal was rejected.
Explaining his proposal, Käo said: „Salaries of the management board were set six years ago and have now fallen behind market rates. Also the company’s profile has changed notably during these six years,” said Käo.
At present Liive is making 11,319 euros a month. If Käo’s proposal had been accepted, he would have made 240,000 euros a year.
The supervisory board decided to reject the proposal because the majority of the board said that the changes that had taken place in the company did not justify such a rapid increase in management board salaries.
Among others, Eesti Energia has launched several international developments such as the shale oil refining projects in US and Jordan under the Enefit technology export scheme.
They said that the company’s management had actually become easier after the main grid company Elering was divested.
The highest salary in Estonian state owned enterprise is earned by Tero Taskila, CEO of Estonian Air, who is making 33,200 euros a month.
In seven months, Taskila earned 232,000 euros.
Kaido Simmermann, CEO of Estonian Railways, earned 107,000 euros last year, Taavi Veskimägi, CEO of Elering, earned over 79,000 euros and Ain Kaljurand, CEO of Port of Tallinn, made about 77,000 euros last year.