Helsinki - The chief executive and the board chairman of the state-owned Finnish energy group Fortum on Thursday announced they would step down, amid a row over bonus payments.

Board chairman Peter Fagernas said he had informed the nomination committee that he would not stand for re-election at next week's annual general meeting.

Chief executive Mikael Lilius, meanwhile, said he would retire at the end of the year.

Their announcements came after Defence Minister Jyri Hakamies, who is also in charge of ownership steering of state-owned companies, in a television interview, said he planned to press for a thorough review of proceedings at Fortum.

Fortum is one of several state-owned groups that has been under fire over generous bonus benefits for management. The government earlier this week said it would review of the guidelines for bonuses and other benefits at state-owned companies.

Fagernas has been under fire over bonus benefits at Fortum.

Last week, the daily Helsingin Sanomat reported that Lilius was given a share bonus worth 2.2 million euros (2.9 million dollars).

Economic Affairs Minister Mauri Pekkarinen later said Fortum had wrongly interpreted the guidelines in giving Lilius a share bonus worth almost three annual salaries.

The guidelines were introduced 2006, after a similar row involving bonus payments to Fortum management.

"I have considered retiring for a while, and the recent events surrounding Fortum have made me announce my decision today," Lilius, Fortum CEO for the past nine years, said.(dpa)