Fastighets AB Balder

At the Fastighets AB Balder general meeting 12 May 2021, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 11.2 and 11.5 for the following reasons:

Item 11.2: Elect CEO Eric Selin as board member

Folketrygdfondet opposes the election of the CEO to the board of directors as a matter of principle. One of the board’s main tasks is the supervision of company management, which includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members can only supervise company management adequately if they are not recruited from among management. For this reason, we voted against item 11.2. 

Item 11.5: Elect Anders Wennergren as board member

In Folketrygdfondet’s view, board members should not undertake assignments for the company
outside of their duties to the board. Folketrygdfondet’s concern is that such assignments may
negatively affect the board member’s independence and ability to perform his or her supervisory
functions properly. For this reason, we voted against item 11.5.