Anger at 70% pay rise for energy firm boss

The salary of Nuon CEO Huib Morelisse has gone up 70% to €750,000, much to the fury of local authority shareholders who were not consulted about the move, the Volkskrant reports.

Morelisse is also being paid an extra €724,000 in compensation for lost earnings by his previous employer, energy company Essent, the paper says.
Essent is now 100% owned by German power company RWE and Nuon is 49% in the hands of Swedish state-owned energy firm Vatenfall.
Under Swedish law, Morelisse cannot be paid a bonus, so his basic salary has been increased instead, the paper says.
Gelderland province, which owns 22% of Nuon, is planning a formal protest at the next shareholders meeting about the procedures used to agree the increase.

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