Lifco AB
At the Lifco AB general meeting 25 April 2025, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 15.04, 15.09 and 17.00 for the following reasons:
tem 15.04: Elect Eric Gabrielson as a board member
In Folketrygdfondet’s view, board members should not undertake assignments for the company outside of their duties to the board. Folketrygdfondet’s concern is that such assignments may negatively affect the board member’s independence and ability to perform his or her supervisory functions properly. For this reason, we voted against this matter.
Item 15.09: Elect CEO Per Waldemarson as a board member
Folketrygdfondet opposes the election of the CEO to 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. For this reason, we voted against this matter.
Item 17.00: Remuneration Report
Folketrygdfondet’s decision to vote against the executive Remuneration Report is based on a cumulative assessment taking into consideration that the report provides insufficient disclosure to assess how and lack of reasoning to explain the rationale for if and to what extent the executive remuneration strategy aligns with shareholder interests. For this reason, we voted against this item.
In Folketrygdfondet’s view, board members should not undertake assignments for the company outside of their duties to the board. Folketrygdfondet’s concern is that such assignments may negatively affect the board member’s independence and ability to perform his or her supervisory functions properly. For this reason, we voted against this matter.
Item 15.09: Elect CEO Per Waldemarson as a board member
Folketrygdfondet opposes the election of the CEO to 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. For this reason, we voted against this matter.
Item 17.00: Remuneration Report
Folketrygdfondet’s decision to vote against the executive Remuneration Report is based on a cumulative assessment taking into consideration that the report provides insufficient disclosure to assess how and lack of reasoning to explain the rationale for if and to what extent the executive remuneration strategy aligns with shareholder interests. For this reason, we voted against this item.