Hexagon AB

At the Hexagon AB annual general meeting on 29 April 2020, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 14 for the following reasons:

Item 14: Guidelines for remuneration to senior executives

Folketrygdfondet’s decision to vote against the executive remuneration policy is based on a cumulative assessment. We note that the CEO’s base salary significantly exceeds that of peers and variable compensation consists solely of an annual cash bonus. Furthermore, the short-term bonus program is poorly disclosed and does not include a clawback mechanism.