Norway's $2 Trillion Wealth Fund to Support Human Rights Report Proposal at Microsoft AGM, Oppose CEO's Board Chair Role and Pay Package
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6mo ago· 1 min readenNews
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Summary
Norway's $2 trillion sovereign wealth fund will vote in favor of a shareholder proposal at Microsoft's AGM requiring a report on human rights risks in countries with significant concerns, going against management's recommendation. The fund also plans to vote against CEO Satya Nadella's re-appointment as board chair and his compensation package. As Microsoft's second-largest shareholder with a 1.35% stake worth $50 billion, the fund's position carries significant weight in the upcoming shareholder meeting.
Key quotes
· 4 pulledNorway's $2 trillion wealth fund said on Sunday it would vote for a shareholder proposal at the upcoming Microsoft annual general meeting requiring for a report on the risks of operating in countries with significant human rights concerns.
Microsoft management had recommended shareholders voted against the motion.
The fund also said it would vote against the re-appointment of CEO Satya Nadella as chair of the board, as well as against his pay package.
The fund owned a 1.35% stake worth $50 billion in the company as of June 30, according to fund data, making it the fund's second-largest equity hol
The fund also said it would vote against the re-appointment of CEO Satya Nadella as chair of the board, as well as against his pay package.
