Mr. Reijo Karhinen, the CEO of OP-Group, as a man who likes to be in the limelight and lead public opinion, represents the world of Finnish banking rather well, .
He was also one of the leading CEO’s who promised in 2015 to cut his salary by 5% to help the government secure an important collective bargaining arrangement with Finland’s unions.
The unions eventually agreed to cuts in some benefits as well as agreeing to a slightly longer working day. The government was so pleased that they made modest cuts in income tax to compensate workers for their small reductions in wages.
Now, however, it appears thatMr. Karhinen, did not have his salary reduced, quite the opposite. He received the same very nice salary and a very big bonus in each of the following years. He claims that the final collective bargaining agreement was not good enough, and his media spin doctor also said that he has allocated more time to good works with the third sector, etc!
As an active key member of the cooperative movement, one cannot feel that such behaviour is worthy of this movement. It is certainly not typical of the honest and hardworking folk that farm our fields and forests.
If men in his position can act in this manner then there is little hope that others (read ordinary folk) can feel bound by such promises.
The other leading CEO’s who were involved in this altruistic promise have not yet had the chance to disclose if they have kept their promises. For the record they are Matti Alaluhta and Antti Herlin.