Europe's Largest Pension Fund Sells Tesla (TSLA) Shares Over CEO Compensation Concerns

3 days ago

Europe's largest pension fund, Stichting Pensioenfonds ABP, sold its €571 million stake in Tesla (TSLA, Financial) during the third quarter. The decision was partly influenced by disagreements over the compensation of Tesla's CEO, Elon Musk. Last June, the fund voted against Musk's compensation package, labeling it controversial and excessive.

A spokesperson for Stichting Pensioenfonds ABP confirmed that the decision to divest was based on considerations of cost, returns, and responsible investment requirements.

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