OSLO :Norway's $1.7 trillion sovereign wealth fund said on Saturday it will vote against ratifying Tesla CEO Elon Musk's $56 billion pay package, which is up for a shareholder vote next week, after a Delaware judge invalidated it earlier this year.
FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File PhotoOSLO :Norway's $1.7 trillion sovereign wealth fund said on Saturday it will vote against ratifying Tesla CEO Elon Musk's $56 billion pay package, which is up for a shareholder vote next week, after a Delaware judge invalidated it earlier this year.
Still,"we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk," Norges Bank Investment Management , the operator of the fund said."We will continue to seek constructive dialogue with Tesla on this and other topics," NBIM added.
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