Norway's $2.3 Trillion Fund Opposes John Elkann's Meta Board Reappointment

1 articles · Updated · Bloomberg · May 22

Norway’s $2.3 trillion sovereign wealth fund withheld support for John Elkann’s reappointment to Meta’s board ahead of the company’s May 27 annual meeting.
The fund said Elkann may not have enough time to devote to Meta board duties while serving as Stellantis chairman and Exor chief executive.
The objection puts a high-profile governance concern on record from one of the world’s largest investors as Meta shareholders prepare to vote.

Is John Elkann's elite experience more valuable to Meta than the time a less-burdened director could offer?

With Zuckerberg in control, is Norway's protest vote a futile gesture or a powerful new form of shareholder influence?

As giant funds target busy directors, is 'overboarding' the next major risk for corporate boards?