One of Microsoft’s largest shareholder votes against CEO Satya Nadella; two things the Fund opposed

Norway’s $2 trillion Sovereign Wealth Fund has voted for proposals against Microsoft CEO Satya Nadella. The world’s largest Sovereign Wealth Fund voted at Microsoft’s shareholders’ meeting on December 5, where multiple governance and compensation issues were also reviewed. The shareholder meeting was held virtually. At the shareholders meeting, Norway Fund voted against the re-election of CEO Satya Nadella as chair of the Microsoft Board. Similarly, the Fund also voted against Nadella’s compensation package as Microsoft CEO. Norway’s Sovereign Wealth Fund’s vote against Nadella in both the cases is as per the Fund’s general policy that has been to oppose a company’s CEO doubling up as its chair, and it also has often complained that executive pay in America is excessive.