Risk of having to repay 20 million in bonus

Thomas Borgen (54) resigned as CEO of Danske Bank last autumn. The agreement states that upon termination, he will not receive more than NOK 9 million earned in the long-term bonus program.

According to DN, Danske Bank investigates whether it can claim back money that has been paid out in bonuses through variable remuneration and compensation through shares from previous years. Last autumn, Danish and Swedish media wrote that Thomas Borgen (54) has been paid in excess of NOK 20 million since 2011.

– It is still on the table and something the bank is looking at, says acting CEO Jesper Nielsen to DN.

Nielsen will not comment on the newspaper a possible reaction to Borgen in particular.

– This applies to people who have been involved in the case in one way or another. I can’t say anything about who, because then it will be a personnel case.

He goes on to say to the newspaper that a number of legal assessments and surveys are being made, among other things about what is a reasonable reaction. All facts in the Estonia case are included in it. Therefore, it will take some time and it is difficult to say how long.

Borgens spokesperson Andreas Buøen in Gambit Hill & Knowlton will not comment on the paper about the possibilities for the bank to claim a bonus back.

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