Report
Charles Pinel
EUR 1000.00 Purchase single report

Proxy Report - 21/06/2018

En 2017, le Groupe Bertrand a pris le contrôle de la société et détient désormais 70,9% du capital et 71,9% des droits de vote. Christophe Gaschin, Secrétaire Général du Groupe Bertrand, a été nommé Directeur général fin juillet 2017.

Bien que ne respectant pas la structure recommandée par Proxinvest avec notamment l'absence de part variable, les montants de la rémunération du nouveau Directeur Général, qui fait l'objet d'un contrat de prestation avec le Groupe Bertrand, semblent acceptables. Il en est de même en matière de quantum pour le Président du conseil. En revanche, le précédent Directeur général a quitté la société avec une indemnité transactionnelle trop élevée selon notre politique de vote (résolutions 7 à 12).

Plusieurs résolutions portant sur le capital ne sont pas suspendues en période d'offre publique et ne pourront être soutenues (résolutions 14, 15 et 17).

Underlying
Groupe Flo

Groupe Flo SA is a France-based holding company that operates in the commercial catering sector. The Company owns a chain of restaurants that are divided into various branches: the Hippopotamus restaurants, serving primarily steak and meat products; the Bistro Romain restaurants, providing Italian-inspired food; the Brasserie Flo bistros under a number of brand names; the Tablapizza operates through its eating places, serving pizzas and pastas, and Les Tavernes de Maitre Kanter operates through restaurants. The Company also operates restaurants under concessions in a number of locations, including Disneyland Paris and CNIT La Defense. Groupe Flo SA functions through several subsidiaries, including wholly owned Flo Gestion SNC, CEM SA and SCI Hippo. In the year 2013, it opened 12 new restaurants under the Hippopotamus brand and sold one Bistro Romain restaurant.

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
Charles Pinel

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

ResearchPool Subscriptions

Get the most out of your insights

Get in touch