Åse Aulie Michelet, Svein Rennemo and Harald Norvik have been appointed as external members for the Corporate Governance Board. The board acts as an advisory forum for the Chief Corporate Governance Officer.
The three members have extensive board experience from publicly listed companies, both internationally and in Norway. The board will advise on the fund’s corporate governance strategy, the exercise of ownership rights and principles and practices affecting listed companies in the equity portfolio.
“We are very pleased to have Michelet, Rennemo and Norvik on board. They have a valuable combination of board and management experience. Their extensive experience and knowledge will further strengthen our corporate governance work”, says Carine Smith Ihenacho, Chief Corporate Governance Officer in Norges Bank Investment Management.
Carine Smith Ihenacho will chair the board and may invite the CEO, the Chief Investment Officer Equity Strategies and additional internal and external participants to attend the deliberations as relevant.
“We take our responsibilities as owner in 9,000 companies seriously. We want to ensure that the companies we invest in have the best possible governance structure and effective boards. Each year we use our voting rights to elect many thousand company boards. The advisory board will help us assess company boards and strengthen their effectiveness”, says Ihenacho.
The board will meet at least six times annually.