Proxinvest regrette que la société ait encore une fois associé l'approbation des charges non déductibles à l'approbation générale des comptes. Selon la politique de vote de Proxinvest, sauf lors de montants non significatifs inférieurs à 100 000 €, les dépenses non déductibles non détaillées par nature et nombre de bénéficiaires, non quantifiées, ou mal justifiées feront l’objet d’une opposition. Or pour l'exercice 2016, les dépenses non déductibles ont représenté 161 483 € (169 134 lors de l'exercice précédent) sans que la société n'apporte de justification (résolution 1).
La rémunération du Président Directeur Général Bertrand Dumazy pour l'exercice 2016 est excessive selon Proxinvest (résolution 5), ainsi que sa rémunération pour l'exercice 2017 (résolution 6).
Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
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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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.
A director at Edenred sold 75,000 shares at 42.671EUR and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...
EDENRED - BUY - Top Picks | EUR47(+16%) Another small yet accretive acquisition (contact) Acquisition of Easy Welfare, the leader in employee engagement platforms in Italy Deal set to be accretive as of 2019 A new step in a new growth segment to expand the offer in the employee benefits market
The independent financial analyst theScreener just lowered the general evaluation of EDENRED (FR), active in the Business Support Services industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date May 24, 2019, the closing price was EUR 40.42 and its target price was estimated at EUR 35.69.
La rémunération pour l'exercice 2018 et la politique pour 2019 d'Hervé de Beublain, Président du Conseil d'Administration, ne comportent pas de rémunération variable (résolutions 8 et 11), ce qui est conforme à notre politique de vote. En effet, Proxinvest s'oppose à ce qu'un Président non-exécutif, donc sans responsabilité opérationnelle, touche une rémunération basée sur les performances opérationnelles de la société (résolution 7). La résolution 9 visant la rémunération pour l'exercice 2018 de Didier Fauque, Directeur Général, manque de transparence et ne comporte aucune rémunération long-...
Item 2: Approve the Remuneration ReportAlthough the remuneration structure was previously considered satisfactory, the changed situation for long-term incentive pay means that it is no longer considered acceptable. The new LTI awards exceed guidelines, are transaction-based and are overly dependent on the discretion of the remuneration committee. Furthermore, there will be no long-term incentive pay in 2019. Actual incentive pay for the year was excessive. We recommend shareholders oppose.EGM Items 1 - 4: Return of Value to Shareholders The Company is seeking to return value to shareholders. ...
Item 2: Approve the Remuneration ReportThe structure is considered acceptable. However, the STI and the LTI are overly reliant on a sole performance metric, EBITDA. Furthermore, pay is only slightly weighted toward the long-term. Actual incentive pay for the year exceeded ECGS guidelines, though concern with this is partially mitigated by the lower base salary. Nevertheless, on balance, we recommend shareolders oppose. Items 6-16: Re-elect the Board of DirectorsThere is insufficient independent representation on the Board and insufficient gender diversity. One of the joint Chairman is the for...
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