Pension

AP7 CEO ready to lead more lawsuits after Facebook victory

Sweden’s AP7 pension fund hails its part in a major victory for shareholder power, as internet giant Facebook is forced to back down on plans to issue a new voteless class of share. CEO Richard Gröttheim tells AMWatch why it’s important to go to court to be an active owner, and says his fund would do it again.
AP7 was part of an shareholder group that forced Facebook to abandon plans for voteless shares. | Photo: /ritzau/AP/Matt Rourke
AP7 was part of an shareholder group that forced Facebook to abandon plans for voteless shares. | Photo: /ritzau/AP/Matt Rourke
by RACHEL FIXSEN

When Mark Zuckerberg, the founder of social media giant Facebook, announced he was withdrawing contentious plans to reclassify the firm’s share capital, Sweden’s AP7 national pension fund was not the only investor to cheer.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
    • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading