AP Moller-Maersk chairman Jim Hagemann Snabe has defended big payouts to directors by saying they do more work than previously.
Hagemann Snabe in particular had come under fire for his DKK 7m ($1.01m) pay packet in 2019, after the group published remuneration details for the first time earlier this year.
The gap to the next best paid Danish director, Novo Norisk chairman Helge Lund, is nearly DKK 4m.
Pension funds had been keen to quiz the company on the issue.
Speaking at the Danish shipowner's annual general meeting on Tuesday, the chairman told investors that the overall level of board rewards was little different to how it has been over the last decade and more.
"It has not increased significantly in 13 years," he said without addressing his own pay, according to Maritime Denmark.
Committee work increasing
The chairman was the only member of the company's top brass to attend the meeting, which was scaled backed and webcast to investors due to the coronavirus outbreak.
He estimated that directors' workloads had increased by 50% over that time.
Hagemann Snabe said this was because the board takes part in more committee work to support the executive management team.
"As chairman, I have elected to sit on all these committees," he said.
It also emerged in the pay report that Maersk has been paying departed top executives for up to two years from their leaving date.
Maersk said Hagemann Snabe, Ane Maersk Mc-Kinney Uggla, Robert Maersk Uggla, Jacob Andersen Streling and Thomas Lindegaard Madsen were all re-elected, along with UK fintech newcomer Blythe Masters.
Shareholders adopted the updated remuneration policy that aims to tie pay more to performance and the bottom line.
