Kjaerulff received golden handshake
SHIPPING: Torms former CEO, Klaus Kjaerulff, did not leave the shipping company empty handed, when he left his job in September last year. He received a golden handshake of $ 4.9m.
Even though the chair of the shipping company Torm several times has stated that the company's former manager Klaus Kjaerulff left the company voluntarily, the annual report states that the top manager for many years was paid a golden handshake of DKK 28.9m.
"Klaus Kjaerulff agreed in September 2008 to end his employment as CEO of Torm and as compensation for the termination the company has decided to pay $ 4.9m", it says in the report.
Several sources have previously pointed out that Klaus Kjaerulff in reality was fired as a direct consequence of the CEO's disagreements with Torm's former Greek owners and especially the very powerful board member Gabrial Panayotides.
However, the lawyer N.E. Nielsen, who has been chair of the shipping company several times since 2000, has on numerous occasions refuted such accusations.
Source: maritimedanmark.dk