SJ CEO Monica Lingegård Steps Down with a 6.6 Million Severance Package

Monica Lingegård, CEO of the Swedish state-owned train company SJ, is stepping down from her role, reports Dagens Industri. Upon her departure, she will receive a severance package of 6.6 million SEK.

• "The CEO change is initiated by the board," says SJ's Chairman Kenneth Bengtsson.

Monica Lingegård has served as CEO since 2020. The board has now decided to terminate her position, according to Dagens Industri.

• "The CEO change is initiated by the board," Kenneth Bengtsson tells the newspaper.

Lingegård will remain in her position until March 1 next year, after which she will receive a severance package of 6.6 million SEK.

• "Since this is a board decision, a severance payment equivalent to 12 months' salary will be paid from March 1," says Kenneth Bengtsson.

Board: Seeking a Younger CEO

The reason behind the decision is the board's desire for better continuity in the role.

• "We need a CEO who can have a perspective of 5-7 years, and just by looking at Monica's birth certificate, one realizes that a CEO change will occur during this period," says Kenneth Bengtsson.

Bengtsson refers to Monica Lingegård's approaching retirement age.

Speaking to SvD on Sunday evening, Monica Lingegård expressed her wish to stay.

• "It's clear that I would have liked to continue," she tells the newspaper.

When asked if she interprets Bengtsson's statement as age discrimination, she responds:

• "I think like this: I will not comment on this right now. We will issue a press release tomorrow morning."

Dagens Industri has previously reported on harsh criticism directed at Monica Lingegård's leadership in anonymous whistleblower letters to both SJ's board and the government offices.

The successor to Monica Lingegård will be announced on Monday morning.