Decision on cancellation of severance pay to former CEO
Given the information in the investigations conducted by the Swedish and Estonian Financial Supervisory Authorities and the international law firm Clifford Chance, the Board of Swedbank has decided to unilaterally cancel the agreement of severance pay to the bank’s previous CEO Birgitte Bonnesen. The severance pay was planned to start as of the 29[th] of March 2020. The Board has also decided not to make claims against Birgitte Bonnesen, following considerations of a legal assessment of the conditions for such a potential process. The Board of Swedbank has this morning decided that