Report
Expert Corporate Governance Service (ECGS)
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Etude l' AG du 31/07/2017

 Item 14: Appoint the auditors. Following the audit tender process undertaken last year, Deloitte is proposed as the new external auditor.
Item 17:  Approve the Remuneration Report. The structure is weighted more towards rewarding long-term performance, but accelerated vesting in the event of a change of control is possible and the quantum is excessive. Both the STI and LTI use ROE as a performance metric. Furthermore, the Company paid excessive benefits to the new CEO for his relocation to London and made a recruitment award to a new executive director. 
 
 

Underlying
National Grid

National Grid is a holding company. Through its subsidiaries, Co. owns and operates regulated electricity and gas infrastructure networks in the U.K. and the U.S. Co. operates through five business segments: U.K. Electricity Transmission, U.K. Gas Transmission, U.K. Gas Distribution, U.S. Regulated, and Other Activities, primarily relating to non-regulated businesses and other commercial operations not included within the above segments, including: the Great Britain-France electricity interconnector; U.K. based gas metering activities; U.K. property management; a U.K. LNG import terminal; U.S. LNG operations; and U.S. unregulated transmission pipelines, together with corporate activities.

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.

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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)

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