Report
Jehanne Leroy
EUR 1000.00 Purchase single report

Johnson Matthey PLC - Proxy report 26/07/2018

Item 2: Approve the Remuneration Report

The structure is satisfactory, though the maximum bonus exceeds guidelines and accellerated vesting is possible. While the quantum is not excessive, the payout is not adequately aligned with performance as the STI targets are not challenging. The LTI is overly reliant on a single performance criterion. Furthermore, EPS is not considered an appropriate metric given that it can potentially be influenced by executives.

Item 13: Appoint the auditors

It is proposed to rotate the auditors and appoint PricewaterhouseCoopers. KPMG (and its predecessor entities ) has been the external auditor since 1986, well in excess of ECGS guidelines limit and market practice.

Underlying
Johnson Matthey PLC

Johnson Matthey is a provider of sustainable technologies. Co. operates in five divisions: Emission Control Technologies, a manufacturer of catalysts and catalyst systems that enable clean air; Process Technologies, a supplier of catalysts, licensing technologies and other services to the syngas, oleo/biochemical, petrochemical, oil refining and gas processing industries; Precious Metal Products, which include management, distribution, refining and recycling of precious metals, and fabricate products; Fine Chemicals, a supplier of active pharmaceutical ingredients and custom services for pharmaceutical customers; and New Business, which focuses on additional areas of potential growth.

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
Jehanne Leroy

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