General: Gerresheimer is a leading global partner to the pharma and healthcare industries. The Company's product portfolio includes pharmaceutical packaging and products for the administration of medicines: insulin pens, inhalers, micro pumps, prefillable syringes, injection vials, ampoules, bottles and containers for liquid and solid medicines with closure and safety systems as well as packaging for the cosmetics industry. Its international business is split into three divisions: Plastics & Devices, Primary Packaging Glass and Advanced Technologies.
As of 24 April 2019, NN Group N.V. and Stichting Pensioenfonds ABP each held between 10% and 15% and BNP Paribas Asset Management Holding S.A. and Eton Park (EP Overseas Fund Ltd. & EP Master Fund Ltd.) each held between 3% and 5% of the Company's shares.
In financial year 2017/2018, Group revenues increased by 1.4% to EUR 1.37bn, EBIT decreased by 22.9% to EUR 139.5m and net income attributable to the shareholders of Gerresheimer AG increased by 27.8% to EUR 129.0m.
On 5 February 2018, CEO Dr. Christian Fischer resigned from the Management Board with immediate effect for personal reasons. According to the Company, the decision was "not based on diverging views regarding the strategy or business performance". Dr. Fischer had assumed his position only on 1 September 2017.
On 6 September 2018, the Supervisory Board appointed Dietmar Siemssen as CEO with effect from 1 November 2018.
Item 4: We recommend to oppose the discharge of the Chairman of the Supervisory Board's Presiding Committee ("Chairman's Committee"), Dr. Axel Herberg, due to the granting of a significant severance payment to the former CEO Dr. Christian Fischer. Dr. Fischer left the Management Board at his own request and we therefore do not consider him being eligible to a severance payment and the payment as such as well as its volume as inappropriate. As the discharge of Supervisory Board members is proposed in a bundled resolution, however, we recommend shareholders to oppose the discharge of the Supervisory Board as a whole.
Item 6: The Management Board and the Supervisory Board propose that the Supervisory Board remuneration shall be converted to a purely fixed remuneration and that the fixed amounts shall therefore be increased. ECGS favours the introduction of a purely fixed remuneration as we consider variable remuneration for non-executives may impair independence and may inhibit objective reviews of strategy. However, we assess the absolute amount of remuneration under the amended system as above market practice and consider the increase as not acceptable. We therefore recommend to oppose the proposed changes to the Company's Articles of Association.
Gerresheimer is a holding company. Through its subsidiaries, Co. manufactures glass and plastic products for the pharma and healthcare industry. Co.'s operates in three divisions: Plastics & Devices, which its product portfolio includes products for the administration of medicines, such as insulin pens, inhalers, and prefillable syringes; Primary Packaging Glass, which produces glass primary packaging for medicines and cosmetics, such as pharma jars, ampoules, injection vials, cartridges, perfume flacons, and cream jars; and Life Science Research, which produces laboratory glassware for research, development, and analytics, such as beakers, Erlenmeyer flasks, and measuring cylinders.
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 :
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.
Der neue Vorstand bleibt für Gj. 2019 sehr optimistisch, zumal einige Projektanläufe noch bevorstehen. Nach dem erfreulichen Q1/19 lieferte Q2/19 eine noch erfreulichere, von allen Segmenten getragene, Umsatz- und EBITDA-Expansion (clean-clean: € 74,2 Mio.; Vj.: € 71,1 Mio.) und gute Fortschritte bei den Wachstumsinitiativen. Der Markt wächst und der Konzernumsatz stieg auf € 660,6 Mio. (nom. +6,7 %; +5,24% in CC). Das adj. H1-EBITDA stieg auf € 245,0 Mio. (H1/18-Wert: € 125,4 Mio.). Insbesondere der Sensile-Einmaleffekt im Q2/19-Abschluß mit €+ 26,2 Mio. überzeichnete die operative Entwicklu...
A director at Gerresheimer Group bought 1,450 shares at 67.410EUR and the significance rating of the trade was 60/100. 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 ...
Das Q1/19 lieferte eine erfreuliche Umsatz- und EBITDA-Expansion und guten Fortschritt bei den Wachstumsinitiativen. Auch ohne FX-Effekte und Einmaleinflüsse stiegt der EBITDA auf € 53,2 Mio. (+1,5 % ggü. Vj.). Wie erwartet, prägte und verzerrte der Sensile-Einmaleffekt i.H.v. €+ 92,3 Mio. den Q1/19-Abschluß. Der Vorstand ist für Gj. 2019 sehr optimistisch, zumal einige Projektanläufe noch bevorstehen.
Leadership Changes In May 2019, Geoffrey Drabble, CEO, stepped down from his role. Brendan Horgan, previously COO, was appointed CEO. Item 2: Approve the Remuneration Report The structure is unacceptable. Although it is more weighted toward the long term, the weighting difference is minor. Furthermore, the maximum bonus exceeds guidelines and the quantum is excessive. Accelerated vesting in the event of a change of control is possible and pension contributions exceed guidelines. Weighting difference is minor. Furthermore, the maximum bonus exceeds guidelines and the quantum is excessive. A...
The Company has paid a dividend in respect of the financial year, however no resolution to approve the distribution has been proposed at the general meeting. Item 2: Approve the New Remuneration policy The company proposes to remove the Bonus Plan for 2019/20. Therefore, variable incentives will solely be based on 2011 awards performance condition of £2 of return required each year for the tranche of options to vest, and £2 of return required each year for any of the ‘banked’ shares to vest. Thus, there will be an insufficient alignment between incentive pay and Company strategy. Moreover, ...
Il est proposé de modifier les statuts afin de créer la fonction de censeur et de nommer à ce poste le groupe L’Oréal, via son fonds d’investissement BOLD Business Opportunities for L’Oréal Development, qui a participé à une augmentation de capital en juin 2019 lui permettant de devenir le premier actionnaire de la société avec 17,3% du capital et des droits de vote. Bien qu'il soit légitime que le principal actionnaire de la société siège au conseil, le choix d'y figurer en tant que censeur ne sera pas soutenu. En effet, Proxinvest n'est pas favorable à la présence d'un censeur au sein du co...
On 28 June 2019, the Company announced that it has entered into an agreement with Motion Acquisition Ltd pursuant to which Motion Acquisition Ltd will acquire the entire issued and to be issued share capital of the Company, other than the Company shares owned or controlled by Kirkbi. Motion Acquisition Ltd is owned by Kirkbi, a wholly owned subsidiary of KIRKBI A/S, the private holding and investment company of the Kirk Kristiansen family which manages the LEGO brand, private equity giant Blackstone Core Equity Partners and Canadian pension fund CPPIB. The announcement comes just weeks after...
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.