Report
Jehanne Leroy
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Bénéteau - 8 Février 2019

De nouveau, Proxinvest attire l’attention des actionnaires sur les rémunérations des dirigeants attribuées au titre de l’exercice, mais également les politiques de rémunérations pour l’exercice 2018-2019. Ainsi, on regrettera que la société ne communique toujours pas les poids de chacun des critères du bonus utilisés, ni leurs taux de réalisation, ni leurs objectifs. En effet, ce manque de transparence ne permet pas à l’actionnaire de comprendre comment a été déterminé le montant du bonus attribué.

Par ailleurs, on s’étonnera que les valorisations des actions gratuites attribuées ne figurent pas dans les tableaux de synthèse du rapport financier annuel, alors même que ces actions gratuites ont été attribués au cours de l’exercice 2017-2018 et que ces tableaux comprennent une ligne intitulée « Valorisation des actions de performance attribuées au cours de l’exercice ».

Enfin, on regrettera le caractère excessivement succinct de la politique de rémunération des dirigeants puisque celle-ci ne fait que survoler le sujet de la rémunération annuelle sans évoquer toute autre formes de rémunération dont pourraient bénéficier les dirigeants.

Underlying
Beneteau S.A.

Beneteau designs, manufactures and sells yachts and powerboats through an international network of dealers. Co. also designs, manufactures and sells mobile homes. Its operations can be divided into two segments: The Boats segment and the Leisure Homes segment. The Boats segment groups together the activities for manufacturing and marketing boats with a customer base made up of dealers; The Leisure Homes segment groups together the activities for manufacturing and marketing mobile homes with a customer base made up of campsites and wholesalers, and the the activities for manufacturing and marketing wood-frame houses. Some of Co.'s brands are Beneteau, Jeanneau, CNB, IRM and O'Hara.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Analysts
Jehanne Leroy

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