Essity AB

At the Essity general meeting on 24 March 2022, Folketrygdfondet, manager of the Government Pension Fund Norway, voted against item 11(d) for the following reasons:

Item 11(d): Re-election of Magnus Groth 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. For this reason, Folketrygdfondet voted against item 11(d).
 

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