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Expert Corporate Governance Service (ECGS)
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Imerys - AGM and EGM 10 May 2019

Since 4 May 2018, Conrad Keijzer, after having been Deputy Chief Executive Officer since 8 March 2018, has been Chief Executive Officer of the company, replacing Gilles Michel, who has retained the position of Chairman of the Board of Directors.

The remuneration policy of the new Chief Executive Officer allows excessively generous amounts and the proposed amendments are inflationary in nature. The same applies to severance pay, which cannot also be supported (resolutions 4 and 6).

Gilles Michel's remuneration as Chairman of the Board of Directors seems acceptable, however, as well as the exceptional remuneration of € 150,000 proposed to facilitate the transition with Conrad Keijzer, although this mission seems to be part of the role of a former Chief Executive Officer who retains the chairmanship of the Board (resolutions 5 and 8). 

Underlying
Imerys

Imerys is engaged in the production and the processing of minerals. Co.'s operations can be divided into four business groups: Minerals for Ceramics, Refractories, Abrasives and Foundry (minerals mainly for floor tiles, sanitaryware, porcelain, mobile energy as well as high-temperature and abrasive industries); Performance and Filtration Minerals (plastics, rubber, coatings, sealants and adhesives, health, beauty and filtration of nutrition liquids); Pigments for Paper (filler and coating products for paper) and Materials and Monolithics (construction materials in clay and slate and monolithic products and solutions for high-temperature industries).

Provider
Proxinvest
Proxinvest

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Analysts
Expert Corporate Governance Service (ECGS)

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