Norway wealth fund flexes its muscles on executive pay\, CEOs holding role of chairman

Norway wealth fund flexes its muscles on executive pay, CEOs holding role of chairman

Reuters  |  OSLO 

(Reuters) - Norway's sovereign wealth fund, the world's largest, voted against one or more resolutions put forward at 27.5 percent of annual general meetings it attended last year, roughly the same level as in 2017.

In its annual report on responsible investment released on Thursday, the fund said it voted against the also holding the position of at Amazon, Johnson & Johnson, Total, and Pfizer, among others.

It also voted against executive pay proposals at JP Morgan Chase, Verizon, and GlaxoSmithKline, among others.

(Reporting by Gwladys Fouche, editing by Terje Solsvik)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 14:41 IST