Hurtigruten Reports Executive Pay Cuts Up to 58 Percent for 2020

At Hurtigruten, executives saw their compensation cut in half in 2020 over 2019, according to the company’s annual report for 2020 that was recently released. 

CEO Daniel Skjeldam received 621,000 euros in total compensation in 2020, compared to 1.5 million euros in 2019, a reduction of 58 percent.

Other executives also saw significant reductions in their compensation.

Hurtigruten also stated that due to the COVID-19 pandemic and temporary lay-offs, the company decided to cancel any bonus awards achieved in 2019 that would have been paid in 2020.

Board members received no compensation.

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