Report
Expert Corporate Governance Service (ECGS)
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Clariant April 01st, 2019

ITEM 5.1.1 - Re-elect Mr. Abdullah bin Mohammed Alissa. He holds an excessive number of mandates. He is a representative of a significant shareholder who is sufficiently represented on the board. Ethos recommends to OPPOSE.

ITEM 5.1.4 - Re-elect Mr. Calum MacLean. He holds an excessive number of mandates.  He is a representative of a significant shareholder who is sufficiently represented on the board. Ethos recommends to OPPOSE.

ITEM 5.3.1 - Re-elect Mr. Abdullah bin Mohammed Alissa to the remuneration committee. As Ethos did not support the election of Mr. bin Mohammed Alissa to the board of directors, he cannot be elected to the committee. Ethos recommends to OPPOSE.

ITEM 5.5 - Election of the auditors. The audit firm has been in office for 24 years, which exceeds Ethos' guidelines. Ethos recommends to OPPOSE.

ITEM 6.2 - Binding prospective vote on the total remuneration of the executive management. The information provided is insufficient. The total amount allows for the payment of significantly higher remuneration than that of a peer group. The remuneration structure is not in line with Ethos' guidelines. Ethos recommends to OPPOSE.

Underlying
Clariant AG

Clariant is a specialty chemicals group based in Switzerland. Co. develops, manufactures, distributes and sells a broad range of specialty chemicals which play a key role in its customers' manufacturing and treatment processes or add value to their end products. Co. has manufacturing plants around the world and sells mainly in countries within Europe, the Americas and Asia. Co.'s businesses are organized into four business areas: Care Chemicals (BU Industrial & Consumer Specialties), Catalysis & Energy (BU Catalysts, Business Line Energy Storage), Natural Resources (BU Oil & Mining Services, BU Functional Minerals), and Plastics & Coatings (BU Additives, BU Masterbatches, BU Pigments).

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.

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Analysts
Expert Corporate Governance Service (ECGS)

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