Norway’s $2.3T wealth fund objects to Elkann’s Meta board seat
Norway's $2.3 trillion wealth fund has withheld its vote on John Elkann's reappointment to Meta's board due to concerns about his multiple roles. The fund argues that Elkann is overextended, serving as chairman of Stellantis and CEO of Exor in addition to his position at Meta. This decision reflects the fund's ongoing scrutiny of board members it deems overcommitted across major companies.
- ▪Norway's Government Pension Fund Global owns approximately 1% of Meta's shares.
- ▪The fund has consistently opposed the reappointment of directors it considers overextended.
- ▪At Meta's annual meeting, the fund supported five out of ten shareholder proposals, including a demand for a data privacy impact assessment related to AI initiatives.
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Norway’s $2.3T wealth fund objects to Elkann’s Meta board seat The world's largest sovereign wealth fund withheld its vote on John Elkann's reappointment, citing concerns about overextended board members at major tech companies. Share Add us on Google by Editorial Team May. 22, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); When the world’s largest sovereign wealth fund tells you it has a problem with one of your board members,…
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