Voting at AGMs (Annual General Meeting) is a strategic tool to safeguard shareholder value and promote sound corporate governance, As the largest asset manager in the Nordics, Nordea holds a strong position to drive positive change in the companies they invest in.
Why voting matters
"At Nordea, we believe that sound corporate governance contributes directly to shareholder value and the long-term success of equity investments," says Richard Torgerson, Corporate Governance Director at Nordea Asset Management. "Our voting activities are not just about ticking boxes—they are about securing long-term shareholder value and ensuring our unitholders' interests are protected."
Richard Torgerson
Corporate Governance Specialist i Nordea
During the first half of 2025, Nordea voted at 2,682 shareholder meetings, opposing management on 10.5% of agenda items—primarily on issues related to executive compensation and board composition.
"We assess every shareholder proposal on a case-by-case basis, always asking: Will this improve company practices or shareholder value? Our goal is to support proposals that enhance transparency, ESG risk management, and long-term value creation," explains Richard Torgerson.
Driving change through engagement
Nordea’s voting is closely linked to its engagement efforts. During the first half year of 2025 there has been several cases where Nordea’s active involvement led to tangible improvements:
Board Diversity: Nordea has successfully advocated for commitments to address gender imbalance on boards, demonstrating our proactive approach to governance.
Nomination Committees: By pushing for external shareholder representation, Nordea helped strengthen governance frameworks and shareholder democracy.
Executive Compensation: Nordea voted against compensation packages lacking transparency or meaningful performance criteria. Nordea pushes for incentive programs that can help motivate long-term value creation.
Voting in numbers
- Nordea supported 52% of shareholder proposals in the first six months of 2025, with the highest support for governance and climate-related resolutions.
- Nordea opposed multi-year authorizations for share issuance or repurchase, favoring one-year mandates to prevent undue dilution.
- Nordea’s voting record is publicly available, underscoring its commitment to transparency.
Looking ahead
"As regulations evolve and new challenges emerge, our commitment to responsible investment and active ownership remains unwavering. Voting at AGMs is how we can use our voice—and we use it to advocate for better governance, sustainability, and shareholder value," concludes Richard Torgerson.
Nordea Funds voting report January - June 2025
In this report you can find more details about how we voted in the first part of 2025.
Read the voting report