Report
Expert Corporate Governance Service (ECGS)
EUR 500.00 For Business Accounts Only

Meggitt - AGM 25 April 2019

Item 2: Approve the Remuneration Report

The structure is weighted toward long-term performance and accelerated vesting in the event of a change of control is not possible.  The quantum is not excessive.  However, there are concerns with the structure of remuneration, especially with the possibility to award significant bonuses and LTIP in cases of 'exceptional performance', making the maximum incentive pay 500% of base salary.  We recommend shareholders oppose.

  Item 22: Approve new Articles of Association

The amendment to Article 119 will allow the Board to determine how dividends are paid to shareholders and whether or not shareholders will have a choice in how they want their dividends to be paid. As shareholders could potentially lose the option to choose how to receive dividend payments, we recommend shareholders oppose.

Underlying
Meggitt PLC

Meggitt is the parent company of a group whose principal activities are the design and manufacture of components and sub-systems for aerospace, defense and other markets. Co. has five segments: Meggitt Aircraft Braking Systems, a providers of aircraft wheels, brakes and brake control systems; Meggitt Control Systems, which comprised of aircraft fire protection and control systems; Meggitt Polymers and Composites, which comprised of engine and aerodynamic seals, flexible fuel tanks and fuel systems; Meggitt Sensing Systems, a provider sensing and monitoring systems for aircraft; and Meggitt Equipment Group, which include unique heat transfer equipment for hydrocarbon processing.

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
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch