Report
Expert Corporate Governance Service (ECGS)
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Proxy Report - 05/04/2018

In general, Neste is in compliance with the Finnish regulations relating the organisation and procedures of the Annual General Meeting.

 Under ITEM 13, the board of directors seeks approval of the remuneration of the auditor. Since non-audit fees paid are greater than 50% of the audit fee on a three-year aggregate basis, ECGS recommends to vote OPPPOSE.

 Under ITEM 14, the board of directors seeks approval of the (re-)election of the auditor. In light of the substantial amount of non-audit fees, ECGS does not approve of the reelection of the auditor either and accordingly recommends to vote OPPOSE. There are no further peculiarities.

Underlying
Neste Oyj

Neste Oyjis a refining and marketing company focused on advanced, cleaner traffic fuels. Co.'s refineries and other production facilities, together with its network of service stations and other retail outlets in Finland and the Baltic Rim area, supply both domestic and export markets with gasoline, diesel fuel, aviation fuel, marine fuel, heating oil, heavy fuel oil, base oil, lubricant, traffic fuel component, solvent, liquefied petroleum gas, bitumen and NExBTL renewable diesel based on Co.'s proprietary technology. Co.'s supply and distribution chain includes a tanker fleet for carrying crude oil and other feedstock imports and refined product exports.

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)

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