(Bloomberg) -- Norway’s $1.7 trillion sovereign wealth fund said it would vote against the $56 billion pay package for Tesla Inc. Chief Executive Officer...
-- Norway’s $1.7 trillion sovereign wealth fund said it would vote against the $56 billion pay package for Tesla Inc . Chief Executive Officer Elon Musk , adding to opposition for the carmaker ahead of its annual general meeting next week.
The decision is “consistent with our vote on the same award in 2018,” the Norwegian fund said, adding it will “continue to seek constructive dialog with Tesla on this and other topics.” While NBIM said it would vote in favor of a management proposal to move the company’s corporate home to Texas from Delaware, it plans to back a shareholder proposal calling on Tesla to adopt new policies related to collective bargaining and freedom of association.The fund issues its voting intentions five days before the AGMs of the companies it invests in. It owned a 0.98% holding worth $7.72 billion in Tesla as of the end of 2023, according to its website.
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