HIGHLIGHTSITEM A AND B
Amber capital owns 3.9% of Lagardère’s share capital, and asked the company to add two items to the agenda concerning the election of two new Directors on the Supervisory Board: Helen Lee Bouygues and Arnaud Marion. Due to Marion’s past experiences and lack of conflicts of interest, we recommend approval of his election.
The Company still does not recognize the entire remuneration granted to Arnaud Lagardère. He obtained €1 000 000 in the form of a profit margin on the regulated agreement (with Lagardère Capital & Management) and an additional €1,788,000 as statutory dividend for his role as General Partner of the partnership limited by shares (SCA).
ITEM 4 TO 7
The structure of the remunerations does not follow good governance principles. Firstly, the variable remuneration of Deputy CEOs is defined with qualitative criteria weighing at 50%.
Moreover, the performance criteria for STI and LTI are similar, which is not challenging.
Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
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In general, Lundbergforetagen is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 12, approval is sought for the re-election of the board of directors. Although there is just sufficient independent representation on the board, ECGS notes that the number of executives (3) sitting on the board is NOT in accordance with provision 4.3 of the Swedish Corporate Governance Code. Aforementioned provision stipulates that no more than one (1) member of the board may be a member of the executive management. Based on the abov...
Merger with Hewlett Packard Enterprise, Profit Warning and Sale of SUSE Business On September 2016, the Company entered into a definitive agreement with Hewlett Packard Enterprise (HPE) on the terms of a transaction which provided for the combination of HPEns software business segment with the Company by way of a merger. The transaction was valued at $8.8bn. On March 2018, the Company issued a profit warning arguing that its revenues declined more than expected due to problems stemming from its acquisition of Hewlett Packard. On 22 March 2018, Hsu resigned from his position of CEO min order to...
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