Norway fund wants more women on boards, concerned about excessive CEO pay
ARENDAL, Norway - Norway's $1.4 trillion wealth fund, the world's single largest stock market investor, is to step up pressure on the companies it invests in to have more women board members and to also reduce excessive executive pay, a top fund official said.
Its latest move comes as the fund takes stock of its ESG engagement with companies so far this year. On Wednesday, it published for the first time an analysis of its voting record during this year's annual shareholder meeting season, where investors vote on issues including executive pay. She said specific details of how the fund will do this have not been decided. One option could be to expand the fund's focus to more countries - at the moment the fund concentrates on the United States, Europe and Japan.
"We are concerned. The large packages are getting larger, and from the figures we have seen, the larger packages are increasing more than the median of packages, and more than inflation," said Smith Ihenacho.
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Norway fund wants more women on boards, concerned about excessive CEO payNorway's $1.4 trillion wealth fund, the world's single largest stock market investor, is to step up pressure on the companies it invests in to have more women board members and to also reduce excessive executive pay, a top fund official said.
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