Oslo: Norway’s trillion-dollar sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has announced it will abstain from voting on Novo Nordisk’s upcoming board appointments, signaling unease over corporate governance changes at one of Europe’s most valuable pharmaceutical companies. The decision comes ahead of Novo Nordisk’s extraordinary shareholders’ meeting scheduled for November 14, where the company’s controlling foundation plans to install former CEO Lars Rebien Sørensen as chairman of the board.

NBIM’s abstention, though subtle, sends a powerful message in corporate governance circles. The Norwegian fund, which owns about 1.79% of Novo Nordisk’s shares valued at approximately $5.5 billion as of June 2025 chose to remain neutral rather than endorse or oppose

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