Norway's Sovereign Wealth Fund to Take a Stand Against Tesla's Record-Breaking Compensation Package for Elon Musk
Saturday, 8 June 2024, 09:20
Norway's oil fund takes a firm stance on Tesla's CEO pay package
One of the top shareholders of the carmaker, Norway's Sovereign Wealth Fund, is expressing concerns over Musk's proposed $56 billion compensation structure.
Shareholder activism on the rise
Shareholders are becoming increasingly vocal about executive pay practices, with Norway's fund signaling its intention to vote against the extraordinary package.
- Excessive compensation: The unprecedented scale of the pay package has raised eyebrows even among Tesla's own investors.
- Alignment with shareholder interests: The fund's move highlights the importance of ensuring executive compensation is in line with long-term shareholder value creation.
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