Norwegian Oil Fund Takes Aim at 'Corporate Greed' Over Excessive Pay, FT Reports

--The $1.2 trillion Norwegian oil fund, the world's largest sovereign-wealth fund, has criticized "corporate greed" and excessive pay at companies for "mediocre performance," the Financial Times reports.

--Nicolai Tangen, the fund's chief executive, told the newspaper that the fund would target big salaries that weren't justified by performance, were opaque or were insufficiently long term, the FT reports.

--Carine Smith Ihenacho, chief governance and compliance officer for the fund, said it will focus on the U.S., as that is where "the high pay packages" were, though it will also look at Europe and elsewhere, the FT reports.

Full story: https://on.ft.com/39eqY4i

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(END) Dow Jones Newswires

05-13-22 0250ET