Grieg Seafood ASA
At the General Meeting of Grieg Seafood ASA on June 4, Folketrygdfondet will vote against item 10 with the following justification:
Item 10: Review and approval of guidelines pursuant to Section 6-16 a) of the Public Limited Liability Companies Act on the determination of salaries for senior executives.
Folketrygdfondet supports guidelines on salary determination that motivate long-term value creation, including schemes that involve share ownership. The total scope of salary and remuneration should not involve an unreasonable transfer of values from shareholders to senior executives, and a maximum cap should be set on the incentive-based part of the salary scheme. Executive salary schemes should be simple and clear to support good corporate governance and ensure aligned interests between management and shareholders.
The Board's proposal for guidelines on salary determination at Grieg Seafood provides neither information on the cap nor the scope related to the share-based part of the salary scheme. Therefore, Folketrygdfondet will vote against Item 10.