Norway wealth fund to oppose electing Pouyanne as Total director

Patrick Pouyanne is currently both chairman and chief executive officer of Total, a combination the fund opposes,

THE Norwegian sovereign wealth fund will vote against the re-election of Total SE’s Patrick Pouyanne as director of the French energy company at this week’s annual general meeting.

Pouyanne is currently both chairman and chief executive officer of Total, a combination the fund opposes, it said in voting intentions published on its website. The fund, whose official name is Norges Bank Investment Management, is the world’s biggest sovereign wealth fund with a $1.3 trillion portfolio.