Following the resignation of Albert Frère in 2016, the two managing directors, Ian Gallienne and Gérard Lamarche were named Co-CEOs.
New nominees to the board this year include Jocelyn Lefebvre a representative of Power Financial BV and Laurence Danon Arnaud, unfortunately only one of whom is independent. Given the absence of a majority independence on the board (28%), we are unable to support the election of Jocelyn Lefebvre to the board (Resolution 5.1.2).
Although we note that, the following the election of Laurence Danon Arnaud, there will be one additional independent member on the board (5 directors as opposed to 4).
Given our concerns regarding independence on the board we are unable support the reelection of the Victor Delloye, Amaury de Seze, and Arnaud Vial (Resolutions, 5.2.1, 5.2.3 and 5.2.5, respectively).
Furthermore, we note our concern with the excessive nature of the remuneration and its structure which is more heavily weighted towards the short term, as such we recommend that shareholders withhold their support of the remuneration policy (Resolution 6) as well as their support from the authority to grant share options in Resolutions 7.1 and 7.2
Groupe Bruxelles Lambert is a holding company. Through its subsidiaries, Co. operates through the following segments: Imerys, which consists of the Imerys group that operates in four business lines of energy solutions and specialties, filtration and performance additives, ceramic materials, and high resistance minerals; and Financial Pillar, which includes, on the one hand, under investment activities, the companies Sienna Capital, Ergon Capital Partners (ECP), ECP II, ECP III, PAI Europe III, Sagard, Sagard II and Sagard III, Kartesia and Merieux Participations I and II and, on the other hand, under consolidated operating activities, the operating subsidiaries of ECP III.
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La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 78,10 €. La tendance de fond serait remise en cause en cas de franchissement de 87,10 €.
In general, Danske Bank is in compliance with the Danish regulations relating to the organisation and procedures of the Extraordinary General Meeting. In light of the money-laundering case at the Company's Estonian branch, which has led to the resignation of several senior executives including Danske Bank's CEO (Mr.Borgen) and Head of Business Banking (Mr. Morch), major shareholder A.P. Moller Holding proposes changes to the board of directors. Under ITEM 1.1, major shareholder A.P. Moller Holding proposes to newly appoint Mr.Dybvad as Member of the board of directors. Based on the available...
La société propose à ses actionnaires de changer son mode d'administration afin de passer à une structure moniste. Si ce changement seul ne semble pas poser particulièrement de problème, cependant la société n’explique pas clairement les objectifs de ce changement, ni même si les fonctions de Directeur Général et de Président du conseil vont continuer à être séparées. Par ailleurs le manque de transparence sur les rémunérations engendra une recommandation de vote négatif pour les résolutions 6 à 10 et de 27 à 28.
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