Report
Expert Corporate Governance Service (ECGS)
EUR 1000.00 Purchase single report

PROXY REPORT 10/07/2018

Leadership Changes

Robert Swannell stepped down as Chairman and Archie Norman was appointed Chairman on September 1, 2017. On March 31, 2018, Helen Weir, former Finance Director, and Patrick Bousquet-Chavanne, former executive director, resigned from the board. Their resignations are related with corporate restructuring. Humphrey Singer was appointed the new CFO in April 2018.

Item 2: Advisory vote on the Remuneration Report

The structure is weighted more towards rewarding long-term performance and the quantum is not excessive. Qualitative criteria for the STI exceed guidelines and make it difficult to asses whether the bonus is truly aligned with performance. However, no bonus was paid for the year since profit threshold was not met.

Item 5: Re-elect the CEO

The CEO is a member of the Nomination Commitee, which does not meet ECGS guidelines or best practice.

Underlying
Marks & Spencer Group PLC

Marks and Spencer Group is the holding company of the Marks & Spencer Group of companies. As a retailer, Co. provided its own-brand food, clothing and home products in its 1,433 stores worldwide and online as of Apr 1 2017. As of the same date, Co. sold food through 942 U.K. stores, including 253 owned and 383 franchise Simply Food stores; and own-brand clothing and homeware through 343 full-line stores, Outlets and its M&S.com website. Co. focuses on contemporary style and wardrobe essentials, and provides Womenswear, Lingerie and Menswear. Co. exports M&S Clothing & Home and Food around the world, with stores across Europe, Asia and the Middle East.

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
Expert Corporate Governance Service (ECGS)

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

ResearchPool Subscriptions

Get the most out of your insights

Get in touch