Klarna’s CEO Receives a Salary Increase Despite the Company’s $1 Billion Annual Loss

The Swedish “buy-now, pay-later” company Klarna announced Tuesday a full-year operational deficit of 10.5 billion crowns, or $1 billion, compared to 6.6 billion crowns in 2021, but said it is on course to return to profitability this summer. The firm noted an improvement in its fourth-quarter performance, stating that its operating loss reduced to 2 billion crowns from 3.5 billion the previous year, and that its gross merchandise volume, or the value of products purchased through Klarna, increased by 19 percent. The Financial Times noted that the annual report coincided with a 35 percent increase in CEO and co-founder Sebastian Siemiatkowski’s compensation to 13.2 million Danish crowns ($1.26 million). To acquire and keep the greatest personnel, the company’s wage policy is comparable to that of other technology companies, according to a company representative.