Report
Expert Corporate Governance Service (ECGS)
EUR 500.00 For Business Accounts Only

GEA Group - AGM 26 April 2019

Item 2: We recommend to oppose the dividend proposal. The dividend is neither covered by earnings nor by free cash flow, the latter for a third consecutive year. We therefore consider a dividend payment inappropriate at this time.

Item 3: We recommend to oppose the discharge of the Management Board due to the frequent profit warnings in recent financial years, which in our view raise fundamental concerns over the reliability of the Management Board's forecasting ability and its communication to stakeholders.

Item 6: We recommend to oppose the election of Colin Hall to the Supervisory Board due to our concerns over the insufficient independent representation on the Board.

Underlying
GEA Group AG

GEA Group focuses on the development and production of process technology and components for production methods. Co. segments include: GEA Food Solutions, which manufactures machinery for preparing, marinating, processing, cutting, and packaging meat, poultry, and other foods; GEA Farm Technologies, which manufacturers product solutions for milk production and livestock farming; GEA Mechanical Equipment, which concentrates in separators, decanters, valves, pumps, and homogenizers; GEA Process Engineering, which designs and develops of process solutions for the pharmaceutical, and chemical industries; and GEA Refrigeration Technologies, which concentrates in refrigeration technology.

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
Expert Corporate Governance Service (ECGS)

Other Reports on these Companies
Ibrahim Firdaus
Ibrahim Firdaus
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch