On October, 18th 2017, Emmanuel Faber, CEO since 2014, became Chairman and CEO. As a counterpower, the company propose to elect Michel Landel as a director in order to entrust him the Lead Independent Director function.
Regarding the 2017 remunerations granted and the 2018 remuneration policy, we regret the company's disclosure on some items. However, the LTIO performance conditions do not allow vesting in case of underperformance and we comment the company on that matter.
Finally, one of the annual bonus criteria is Danone's commitment towards climate change. We note that Danone is now a signatory of the Science Based Targets Initiative; we commend the company for its commitments as being a signatory of the SBTI is one of the engagement priorities of Proxinvest and Phistrust (http://www.proxinvest.fr/?p=4951 ; https://www.phitrust.com/en/phitrust-encourages-cac-40-companies-join-science-base-targets-initiative/).
Danone is engaged in activities in the global food and beverages industry. Co. operates in four markets: Fresh Dairy Products (Co. produces and sells yogurts, fermented dairy products and other fresh dairy products); Waters (Co. produces and sells natural waters as well as flavored and vitamin-enriched waters products); Early Life Nutrition (Co. produces baby formula, milk-and fruit-based desserts, cereals, small pots of baby food and ready-made baby food); and Medical Nutrition (Co. develops adult and pediatric clinical nutrition products to be taken orally, or through a catheter in the event of malnutrition related to illness or other causes).
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>Departure of Bridgette Heller, EVP of specialised nutrition - In a press release, Danone announced yesterday evening that Bridgette Heller would be quitting the group. Danone stressed that she is leaving the company due to matters related to her personal situation. Emmanuel Faber’s comments were designed to make clear management’s regret at this departure. Bridgette Heller was appointed EVP of infant nutrition in April 2016, succeeding Félix Martin who left the group...
Item 1: Approve the share consolidation The Board requests shareholder approval to implement a share consolidation on the basis of 19 new ordinary shares for every 20 existing ordinary shares held. The consolidation is intended to maintain comparability, as far as possible, of the Company’s share price before and after the payment of a special dividend of $2.621 per share. The special dividend is equivalent to 5% of the market capitalisation of the Company as at 14 December 2018. The Company has implemented a series of share consolidations, returning funds to shareholders in this way in 2012...
Item 1: Approve Share Buybacks Shareholder approval is being sought to authorise the Company to make market purchases of its ordinary shares following the inclusion of a typographical error in the resolution granting authority at the 2018 AGM. This error meant that the authority granted at that meeting has already expired. As there is currently no authority in place, the Board proposes the standard share repurchase authority for the UK market with period ending until the earlier of 25 October 2019 (being the later date set out in in the resolution granting authority at the 2018 AGM) and the ...
Les actionnaires sont convoqués afin d'approuver le projet de fusion-absorption d'Affine par la Société de la Tour Eiffel. L'analyse des parités induites par les ANR des sociétés montre une décote de 8,7% au détriment des actionnaires d'Affine. Les commissaires à la fusion expliquent clairement que la décote "disparaitrait en cas de légère remontée des taux de rendement attendus sur les actifs immobiliers, hypothèse qui ne peut être écartée au regard de la situation des marchés financiers, et l’affecterait à raison de sa structure financière également". Au regard de la situation financière d’...
Depuis l’exercice 2016-2017, Vilmorin & Cie se réfère au Code de gouvernement d’entreprise Middlenext. Ainsi, bien que la société se conforme parfaitement au code MiddleNext puisque son conseil comprend 2 administrateurs indépendants (1 seul selon Proxinvest), on regrettera toutefois qu'elle n'ait pas saisi l'occasion de la vacance du siège de M. Foucault (qui a démissionné) pour nommer en son sein un administrateur non lié au premier actionnaire et parfaitement indépendant. Par ailleurs, bien qu'il soit tout à fait appréciable que la société ait communiqué que le bonus annuel du Directeur gé...
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