Item 15(h): Election of Mattias Perjos to the board of directors
Folketrygdfondet opposes the inclusion of the CEO on 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.
Item 17: Resolution regarding Guidelines for Remuneration to Senior Executives
Folketrygdfondet’s decision to vote against item 17 is based on a cumulative assessment of the following elements. The guidelines permit the award of discretionary bonuses, the performance criteria disclosed for both the short-term and the long-term incentive programs are provided as examples only, and there is no disclosure of the associated weights. Of the senior executives covered by the guidelines, only the CEO’s remuneration is disclosed. Moreover, we are concerned that the company awarded short-term variable remuneration in the previous reporting year despite negative earnings before taxes, inconsistent with the previously approved remuneration