Report
Expert Corporate Governance Service (ECGS)
EUR 1000.00 Purchase single report

proxy report 28/06/2018

Item 2: Approve the remuneration report The structure is not weighted more heavily towards long-term performance. Alignment with performance has not been definitively demonstrated given that 40% of the bonus is
determined at the discretion of the remuneration committee. Incentive pay was excessive during the year. The maximum incentive pay exceeds ECGS guidelines.


Items 12 and 13: Appoint the auditors and authorise the board to determine the auditors' remuneration The auditor's tenure exceeds our tenure limit of 10 years. Ernst & Young LLP has been the Group's statutory external auditor since before the Group was listed on the London Stock Exchange in 1994. The three year aggregate non-audit fees exceed ECGS guidelines. Both of these points may undermine the independence of the auditors.

Underlying
3i Group PLC

3i Group is an investment company with two complementary businesses: Private Equity, which invests in companies with an Enterprise Value of Euro100.0million to Euro500.0 at acquisition in its primary investment markets of northern Europe and North America; as well as Infrastructure, which invests in economic infrastructure and greenfield projects in developed economies, principally in Europe. Co.'s private equity business is focused on three sectors: consumer, industrial and business and technology services. Co. invests primarily in northern Europe and North America.

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