Norway fund objects to Meta board seat

Norway's massive $2.3 trillion sovereign wealth fund has voiced strong opposition to the proposed reappointment of John Elkann to Meta Platforms' board of directors. Elkann, who holds significant leadership roles at Stellantis NV and Exor NV, faces scrutiny from the fund over his suitability for the Meta board. This objection highlights growing concerns among major institutional investors regarding corporate governance and board composition at leading technology companies. The fund's stance could influence other shareholders as they consider Elkann's nomination.