Norway’s sovereign fund will vote to support Bayer management

2022.04.24 12:33

FILE PHOTO: The so-called ‘Chempark’, the main plant and headquarters of German pharmaceutical and chemical maker Bayer AG is pictured along the river Rhine in Leverkusen, Germany, April 27, 2020. REUTERS/Wolfgang Rattay

OSLO (Reuters) – Norway’s $1.3 trillion wealth fund will cast a vote in support next week of top management at German drug and farm products maker Bayer AG (ETR:BAYGN), but will vote against the remuneration package of CEO Werner Baumann, it said on Sunday.

Shareholders will vote on April 29 at Bayer (OTC:BAYRY)’s annual general meeting on whether or not to ratify the executive board’s business conduct during 2021, a standard procedure at German AGMs.

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