Report
Expert Corporate Governance Service (ECGS)
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Proxy Report - 30/05/2018

General: Porsche Automobil Holding SE has issued ordinary shares and non-voting preference shares. All ordinary shares are owned by the Porsche and Piëch families. Only the preference shares are listed on the stock exchange. Preference shares have a voting right whenever their membership rights are affected. Therefore, ECGS only provides a voting advice on the items where preference shareholders are able to vote and gives a basic analysis of the other proposals.

On 18 April 2018, state prosecutors from Stuttgart and Munich have searched offices of Porsche and Audi in connection with investigations against Porsche employees among them one member of the Dr.-Ing. h.c. F. Porsche AG Management Board. The investigations relate to allegations of fraud connected to the Volkswagen diesel scandal, according to the prosecutors. Further information has yet to be provided.

Underlying
Porsche Automobil Holding SE

Porsche Automobil Holding is an investment holding company. Co. is engaged in, among others, the development, design, manufacture and distribution of vehicles, engines and other technical or chemical products as well as parts and components; the provision of advice in the area of development and production, primarily in the area of vehicle and engine construction; the provision of advice on and development of data processing as well as the creation and distribution of data processing products; and the marketing of products using trademark rights. As of Dec 31 2013, Co.'s business activities were primarily holding and managing its investment in Volkswagen Aktiengesellschaft.

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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