Reported about 1 year ago
Norway's sovereign wealth fund managed by Norges Bank Investment Management announced it will vote against Elon Musk's hefty CEO compensation package during Tesla's annual meeting. The fund, worth $1.67 trillion, cited concerns about the package's size, performance triggers, dilution, and lack of key person risk mitigation. Despite Musk's significant value generation, the fund remains committed to dialogue with Tesla. Additionally, the fund plans to vote against other shareholder policies management has recommended, including those on collective bargaining, majority voting, board declassification, and reporting on harassment and discrimination prevention efforts.
Source: YAHOO