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Automotive News Europe, February, 2002
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Barnevik pension payoff problem
General Motors may force a leading Swedish industrialist off its board because of a controversy over a pension payment he received in his home country.
The board member, Percy Barnevik, stepped down last November as chairman of ABB, Europe's biggest electrical engineering company. He received a pension payout of E100 million - which has been described as "obscene" in Sweden.
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Despite being asked to return some of the money by ABB officials, Barnevik said: "My pride is intact. One can say it was an American payment system in a ...
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