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Norway sovereign wealth fund backs FedEx CEO pay

Mark White by Mark White
September 22, 2021
in Logistics
0

OSLO, Sept 22 (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, said on Wednesday it will support FedEx CEO Fred Smith’s $54 million pay package at a meeting of the logistics company’s shareholders next week.

The pay of the billionaire chief executive has been challenged here by a labour union over the company’s decision to cancel a bonus programme while giving him an option award instead, only to then re-instate the bonus. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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