Solstad Offshore ASA
At the general meeting 13.05.2026, Folketrygdfondet voted against the following items for the following reasons:
Item 11.01: Elect Harald Espedal
We vote against the election of Harald Espedal due to concerns related to the company’s governance structure, in particular the absence of an independent remuneration committee. Executive compensation is therefore determined within the board without a dedicated independent oversight function. In addition, the board composition reflects close ties to significant shareholders and related governance complexities, including overlapping board mandates and potential conflicts of interest.
Item 11.02: Elect Frank O. Reite
We vote against the election of Frank O. Reite for similar governance-related reasons. The company lacks an independent remuneration committee, and compensation oversight is handled directly by the board. Furthermore, Mr. Reite’s affiliation with key shareholder interests, combined with the broader governance context of concentrated ownership and interconnected board relationships, raises concerns regarding independence and effective oversight.