Evolution CEO Martin Carlesund got a boost of €5.7m in 2022


  • Wednesday 11 January, 2023
Evolution CEO Martin Carlesund got a boost of €5.7m in 2022

Martin Carlesund – the CEO of Evolution Gaming, gained a bonus of  €5.7m getting a total reimbursement of about €7m in 2022. 

Swedish newspaper Dagens Nyheter (DN) reviewed the yearly remunerations for the public firms of the country. As per the review, CEOs reported a 19.9% boost in salaries while managers saw an average of 12% increase in companies registered in Stockholm. 

The amount of unprecedented salary increase that Carlesund received in 2022 leads DN’s list of outstanding compensation rates. This sets him ahead of Johan Forssell who is the CEO of Investor AB – the Swedish investment and de facto conglomerate holding company. Carlesund’s salary increase rate also surpasses that of Volvo CEO Martin Lundstedt. 

The society in Sweden doesn’t seem to approve of the high salary increase rate for managerial positions. The reason behind this are the social issues such as growing prices and stagnated salaries of lower-class employees. 

Susanna Gideonsson called this insane and highlighted the necessity to stop at some point. 

‘’While realizing the imminent threat to the economy, they’ve already managed to reimburse themselves significantly and be prepared against inflation. For the time being, those who don’t have food on the table are set to watch how high-ranking managerial staff are enjoying increased compensation rates. To tackle the situation, the whole business community should join forces to take the country out of the inflation.’’ 

DN states that members of trade unions should have had a salary rise of about 4.4%. At the same time, firms require putting limits to salary rises to refrain from supporting inflation. 

According to iGaming NEXT, Evolution has unveiled the reasons for the high increase in Carlesund’s compensation rate which was conditioned by obtaining warrants in the company within the incentive program of 2012 to 2024. Besides, Carlesund’s leadership turned out to be a beneficial one for Evolution which boosted its revenue with more than €1bn in the first 9 months of 2022 – an amount equivalent to an increase rate of 36.5%.    

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