Report
Florian Béchaz
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Inside Secure 24 juin 2019

Proxinvest attire l’attention des actionnaires sur les points suivants.

Sur la rémunération attribuée au titre de l’exercice est d’après Proxinvest excessive. De plus lors de l’exercice le dirigeant s’est vu attribuer des actions de performance, cependant cette attribution ne comportait pas de conditions de performances de long-terme. Proxinvest regrette cette pratique qui correspond à offrir des actions à son dirigeant. La même remarque peut être faite concernant la politique de rémunération pour l’exercice 2019.

Selon Proxinvest, la position de consultant rémunéré par l’entreprise fait naître une incompatibilité avec la fonction d’administrateur en raison du conflit d’intérêts. En effet, un administrateur doit défendre les intérêts de la société et de ses actionnaires tandis qu'un consultant défendra ses propres intérêts. Ainsi le rapport sur les conventions réglementées connait une recommandation négative.

Underlying
Inside Secure

Inside Secure designs, develops and sells software, silicon IP, tools and know-how to be integrated into mobile and connected devices to protect its customers' transactions, content, applications, and communications. Co. is serving markets such as: network security; IoT security; content & application protection; and mobile payment & banking. Co.'s technology protects solutions for a broad range of customers including: service providers; digital content distributors; security system integrators; device vendors; and semiconductor manufacturers.

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
Florian Béchaz

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