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SCA AB

At the SCA general meeting on 31 March 2020, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 12(v) for the following reasons:

Item 12(v): Re-election of Ulf Larsson to the Board of Directors

Rationale:
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.
 

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