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Norway's sovereign wealth fund to scrutinise executive pay at firms

Fund's move may boost vigorous shareholder opposition to high director salaries

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Published Fri, May 6, 2016 · 09:50 PM

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    London

    GROWING shareholders' revolt against excessive director remuneration has gained impetus from Norway's 7,000 billion kroner (S$1.16 trillion) sovereign wealth fund.

    During the past few years, Norge Bank Investment Management (NBIM) has generally followed other major institutions and accepted what individual shareholders regarded as excessive, unwarranted director salaries, bonuses and options deals.

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