Despite the huge AUM, I'd think being CEO of Norwegian Pension Fund has much less degrees of freedom (and therefore actual success/failure responsibilities) than being CEO of Google.
Yes, they have certain guidelines to follow - both ethical (can't invest in certain types of governments), and related to responsible management. He obviously can't liquidate the whole portfolio, and say fuck it, let's go all in on crypto.
Perhaps, at the same time if they DO fail badly, they would likely be replaced. Not as much in Google's case, where the highly paid visionary CEO has missed the greatest trend of the decade and still makes 200M. I could have equally missed the same trend myself for only 20M if they had given me the opportunity.
Re:Google CEO Salary
by Eddy_Viscosity2 on Sunday April 23, 2023 @11:18AM
(#35676972)
The first job of the CEO is to transfer as much wealth from the company to themselves as they can get away with.
Makes one wonder if you really need to pay CEOs astronomical comp packages to attract the "best talent".