Norway wealth fund to vote for human rights report at Microsoft AGM, against management

OSLO, Nov 30 (Reuters) – Norway's $2 trillion wealth fund said on Sunday it would vote for a shareholder proposal at the upcoming Microsoft annual general meeting requiring for a report on the risks of operating in countries with significant human rights concerns. Microsoft management had recommended shareholders voted against the motion. The fund also said it would vote against the re-appointment of CEO Satya Nadella as chair of the board, as well as against his pay package. The fund owned a 1.35% stake worth $50 billion in the company as of June 30, according to fund data, making it the fund's second-largest equity holding overall, after Nvidia. It is Microsoft's eighth-largest shareholder, according to LSEG data. Investors in the U.S. tech company will decide whether to ratify the proposed motions at the AGM on December 5. (Reporting by Nerijus Adomaitis in Oslo, editing by Gwladys Fouche)

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