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Reuters

Norway’s sovereign wealth fund to vote against Apple management’s pay plan

OSLO (Reuters) -Norway’s $1.3 trillion sovereign wealth fund, the world’s largest, will vote against ratification of tech giant Apple Inc’s management remuneration plan after an advisory firm urged investors to act, the fund’s manager said on Sunday. The Norwegian fund owns 1.03% of Apple’s shares, making it the company’s eighth largest shareholder, according to Refinitiv data. Chief Executive Tim Cook’s pay in 2021 was 1,447 times that of the average Apple employee, a company filing on Jan. 7 showed, fuelled by stock awards that helped him earn a total of $98.7 million.