OSLO: Norges Bank Investment Management, the pension fund fueled by Norway’s oil revenue, says it will oppose power company AES Corp. (AES +1.6%) on four corporate governance proposals.
The fund says it will support a proxy access proposal to let big shareholders list competing board candidates on official AES corporate ballots, as well as a proposal to let holders of at least 20% of the company’s shares call a special shareholder meeting.The proposal furthers a movement that has gained steam as several major companies have granted the power to shareholders that could open the way to more fights over board seats.
