Report
Jehanne Leroy
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Proxy Report - 04/05/2018

Il est proposé lors de la présente assemblée d’approuver les rémunérations attribuées au titre de l’exercice 2017 aux dirigeants. Si globalement, aucun manquement majeur n’est à souligner, on notera tout de même un problème dans la communication du Groupe. En effet, la société omet de communiquer la valorisation des actions attribuées dans les tableaux de synthèse présentés (P299). Or, cette rémunération est attribuée en actions ; elle doit donc non seulement être valorisée, mais doit également figurer dans les tableaux de synthèse recommandés par l’Afep/Medef et l’AMF.

Il est également proposé à la présente assemblée d’élire le représentant des salariés actionnaires. Parmi les 3 candidats proposés, M. Marino et Mme Russo semblent les plus légitimes car le premier est proposé par le FCPE détenant le plus grand nombre d’actions et la seconde a été désignée directement par les salariés actionnaires. Et parmi ces 2 candidats, Mme Russo ayant été élue par le processus le plus démocratique, elle semble la plus légitime.

Underlying
Orange

Orange provides consumers, businesses and other telecommunications operators with a wide range of services including fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other services. Co.'s portfolio comprises business lines (fixed-line, mobile, Internet), focusing on all customer segments (small and medium-sized businesses, multinationals), and personal and professional services for home, office, travel, and mobile. Co. manages eight operating segments: France, Poland, Spain, Rest of the Europe, Africa and Middle East, Other non-controlling equity interests, Enterprise Communication Services, and International Carriers and Shared Services.

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
Jehanne Leroy

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