Norwegian Air Shuttle Management

Management criteria checks 2/4

Norwegian Air Shuttle's CEO is Geir Karlsen, appointed in Jun 2021, has a tenure of 2.83 years. total yearly compensation is NOK9.34M, comprised of 59.6% salary and 40.4% bonuses, including company stock and options. directly owns 0.068% of the company’s shares, worth NOK9.46M. The average tenure of the management team and the board of directors is 3 years and 2.8 years respectively.

Key information

Geir Karlsen

Chief executive officer

kr9.3m

Total compensation

CEO salary percentage	59.6%
CEO tenure	2.8yrs
CEO ownership	0.07%
Management average tenure	3yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Geir Karlsen's remuneration changed compared to Norwegian Air Shuttle's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	kr9m	kr6m	kr2b
Sep 30 2023	n/a	n/a	kr1b
Jun 30 2023	n/a	n/a	kr219m
Mar 31 2023	n/a	n/a	kr943m
Dec 31 2022	kr6m	kr6m	kr920m
Sep 30 2022	n/a	n/a	kr1b
Jun 30 2022	n/a	n/a	kr428m
Mar 31 2022	n/a	n/a	kr2b
Dec 31 2021	kr16m	kr5m	kr2b
Sep 30 2021	n/a	n/a	-kr15b
Jun 30 2021	n/a	n/a	-kr16b
Mar 31 2021	n/a	n/a	-kr22b
Dec 31 2020	kr10m	kr5m	-kr23b
Sep 30 2020	n/a	n/a	-kr8b
Jun 30 2020	n/a	n/a	-kr6b
Mar 31 2020	n/a	n/a	-kr3b
Dec 31 2019	kr12m	kr7m	-kr2b
Sep 30 2019	n/a	n/a	-kr3b
Jun 30 2019	n/a	n/a	-kr3b
Mar 31 2019	n/a	n/a	-kr3b
Dec 31 2018	kr3m	kr2m	-kr1b

Compensation vs Market: Geir's total compensation ($USD849.77K) is below average for companies of similar size in the UK market ($USD2.27M).

Compensation vs Earnings: Geir's compensation has increased by more than 20% in the past year.

CEO

Geir Karlsen (58 yo)

2.8yrs

Tenure

kr9,339,000

Compensation

Mr. Geir Magne Karlsen serves as Chief Executive Officer in Norwegian Air Shuttle ASA since June 21, 2021. He had been Chief Financial Officer of Norwegian Air Shuttle ASA since April 2018 until June 2021...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Geir Karlsen	Chief Executive Officer	2.8yrs	kr9.34m	0.068% NOK 9.5m
Hans-Joergen Wibstad	Chief Financial Officer	1.9yrs	kr4.57m	0.0073% NOK 1.0m
Henrik Fjeld	Interim COO & Senior VP of Technical	less than a year	kr1.71m	no data
Per Lyckander	Interim Chief Operating Officer	less than a year	kr2.23m	no data
Anne-Sissel Skanvik	Chief Communications & Public Affairs Officer	15.3yrs	kr3.13m	0.0052% NOK 727.8k
Christoffer Sundby	Chief Marketing & Customer Officer	3.1yrs	kr5.04m	0.035% NOK 4.9m
Guro Poulsen	Chief People Officer	3.8yrs	kr3.39m	0.018% NOK 2.6m
Tore Jenssen	Chief Asset Officer	4.3yrs	kr5.17m	no data
Knut Olav Irgens Hoeg	Chief IT & Business Services Officer	4.2yrs	kr3.84m	0.025% NOK 3.5m
Magnus Maursund	Chief Commercial Officer	2.5yrs	kr3.65m	0.00048% NOK 67.2k
Jesper Hatletveit	Vice President of Investor Relations	no data	no data	no data
Anders Fagernæs	Norwegian Head of Environmental Sustainability	no data	no data	no data

3.0yrs

Average Tenure

49yo

Average Age

Experienced Management: 0FGH's management team is considered experienced (3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Lars Boilesen	Independent Director	2.8yrs	kr627.00k	0.061% NOK 8.5m
Stephen Kavanagh	Independent Director	less than a year	no data	no data
Svein Oygard	Independent Chairman of Board	2.8yrs	kr1.13m	0.20% NOK 27.4m
Ingrid Leisner	Independent Director	4.9yrs	kr675.00k	0.0031% NOK 433.9k
Katrine Gundersen	Employee Representative Director	5.2yrs	kr150.00k	0.00015% NOK 21.0k
Eric Holm	Employee Representative Director	5.2yrs	kr150.00k	0.000030% NOK 4.2k
Torstein Soland	Employee Representative Director	2.3yrs	kr150.00k	no data
Katherine Sherry	Independent Director	less than a year	kr100.00k	0.0028% NOK 397.5k

2.8yrs

Average Tenure

55.5yo

Average Age

Experienced Board: 0FGH's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

Norwegian Air Shuttle Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new directors

Norwegian Air Shuttle ASA Announces Resignation of Sondre Gravir from the Board of Directors

Independent Chairman of Board recently bought kr507k worth of stock

Less than half of directors are independent

Chief Financial Officer recently bought kr183k worth of stock

Norwegian Air Shuttle ASA Announces the Resignation of Chris Browne as Board Member, with effect from 31 December 2022

Recent updates

Full year 2023 earnings released: EPS: kr1.70 (vs kr0.99 in FY 2022)

Investor sentiment improves as stock rises 17%

Full year 2023 earnings released: EPS: kr1.70 (vs kr0.99 in FY 2022)

High number of new directors

Norwegian Air Shuttle ASA Revises Earnings Guidance for the Full-Year of 2023

Norwegian Air Shuttle ASA Revises Earnings Guidance for the Full-Year of 2023

Norwegian Air Shuttle ASA (OB:NAS) acquired Widerøe AS from WF Holding AS.

Norwegian Air Shuttle ASA (OB:NAS) acquired Widerøe AS from WF Holding AS.

Norwegian Air Shuttle ASA Announces Resignation of Sondre Gravir from the Board of Directors

Investor sentiment improves as stock rises 19%

Norwegian Air Shuttle ASA to Report Q3, 2024 Results on Oct 25, 2024

Third quarter 2023 earnings released: EPS: kr2.12 (vs kr0.98 in 3Q 2022)

New minor risk - Earnings quality

Independent Chairman of Board recently bought kr507k worth of stock

Norwegian Air Shuttle ASA (OB:NAS) entered into a transaction agreement to acquire Widerøe AS for approximately NOK 1.13 billion.

New minor risk - Shareholder dilution

Full year 2022 earnings released: EPS: kr1.08 (vs kr3.52 in FY 2021)

Full year 2022 earnings released: EPS: kr1.08 (vs kr3.52 in FY 2021)

Investor sentiment improves as stock rises 16%

Less than half of directors are independent

Chief Financial Officer recently bought kr183k worth of stock

Norwegian Air Shuttle ASA Announces the Resignation of Chris Browne as Board Member, with effect from 31 December 2022

Norwegian Seeks Judicial Review Regarding EU ETS Obligations for 2020

Independent Director recently bought kr84k worth of stock

Investor sentiment improved over the past week

Chairman of Board recently bought kr1.6m worth of stock

Second quarter 2022 earnings released: EPS: kr1.34 (vs kr8.95 in 2Q 2021)

Chief Financial Officer recently bought kr165k worth of stock

Chairman of Board recently bought kr1.1m worth of stock

Full year 2021 earnings released: EPS: kr3.52 (vs kr1,022 loss in FY 2020)

Less than half of directors are independent

Investor sentiment deteriorated over the past week

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Forecast breakeven date pushed back to 2023

Independent Director recently bought kr98k worth of stock

Third quarter 2021 earnings released: EPS kr0.21 (vs kr28.78 loss in 3Q 2020)

Forecast to breakeven in 2022

Forecast to breakeven in 2021

Forecast to breakeven in 2021

Forecast to breakeven in 2023

First half 2021 earnings released: EPS kr9.03 (vs kr636 loss in 1H 2020)

Forecast to breakeven in 2021

Less than half of directors are independent

No longer forecast to breakeven

Norwegian Air Shuttle Asa Not Providing Guidance for 2021

Full year 2020 earnings released: kr1,022 loss per share (vs kr1,263 loss in FY 2019)

Full year 2020 earnings released: kr580 loss per share (vs kr1,263 loss in FY 2019)

Revenue misses expectations

New 90-day high: kr45.78

Third quarter 2020 earnings released: kr0.28 loss per share

Revenue beats expectations

Norwegian Air Shuttle ASA Announces Resignation of Board Member Anton Joiner

New 90-day low: kr0.60

New 90-day low: kr0.70

New 90-day low: kr1.01

Norwegian Air Shuttle ASA to Report Q2, 2020 Results on Aug 28, 2020

Norwegian Air Shuttle ASA(OB:NAS) dropped from S&P Global BMI Index

Norwegian Air Shuttle ASA to Report Q3, 2021 Results on Oct 28, 2021

First half earnings released

New 90-day low - kr1.24

New 90-day low - kr2.23

Nordic Capital Fund IX, a fund managed by Nordic Capital and Sampo Oyj (HLSE:SAMPO) completed the acquisition of 17.47% stake in Norwegian Finans Holding ASA (OB:NOFI) from Norwegian Air Shuttle ASA (OB:NAS) for NOK 2.1 billion.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age