North Energy will not pay the severance package of 5.8 million, after CEO Erik Karlstrøm had to go on the day. The case could end in court, think labor law expert.
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Former Director Erik Karlstrøm oil mosquito North Energy had Thursday retire his position immediately, because the board no longer had confidence in him.
North Energy Chairman Anders Onarheim says that “the board does not intend to provide any severance package to Karlstrøm” and would not say why Karlstrøm had to leave.
Karlstrøm has led the company since its inception in 2007 until his Thursday got fired.
He was last year one of the nation’s highest-paid oil executives, with a total remuneration of NOK 8 million, and has a agreement on severance pay upon termination of 5.8 million.
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