Oil Fund to vote against Elon Musk pay package at Tesla AGM

The Norwegian Oil Fund says the substantial pay package proposed for Tesla’s CEO sets a negative example of “transferring considerable value from shareholders to management.”

NBIM's CEO, Nicolai Tangen, has been in the spotlight over his relations with Tesla CEO Elon Musk. | Photo: NBIM / Jonathan Ernst / Reuters / Ritzau Scanpix

by BIBI CHRISTENSEN

Ahead of Tesla’s annual shareholders meeting this Thursday, June 13, Norway’s Oil Fund has announced it will vote against a substantial and hotly debated pay package for the US EV maker’s CEO and biggest shareholder, Elon Musk.

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Oil Fund to vote against Elon Musk pay package at Tesla AGM

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Nordea joins investors criticizing "dysfunction" of Tesla board

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Front page now

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Further reading

Nordea joins investors criticizing "dysfunction" of Tesla board

Anthropological study of Oil Fund may become book as CEO continues to divide opinion

Tesla AGM sees defeats for Nordic investors on CEO pay package and workers’ rights

Nordic investors among co-signatories of letter to Amazon

Pension funds' efforts to remove Zuckerberg as Meta chair deemed "naive"

Stricter rules prompt Norwegian asset managers to shift funds abroad