It is proposed to elect a new member to the Board, Ms Lazaznick. She is considered independent and would therefore increase both the independence rate and gender diversity rates of the Board. Hence, we support this election (Item 5.1).
It is also proposed to re-elect all board members. Only 3 board members (including Ms Zalaznick) are considered independent (i.e 23.1% of independence rate). Hence, we do not support most of the re-elections proposed.
We note our renewed concern with the absence of a vote on remuneration. While not required in Luxembourg, it is now European best practice. We raise these concerns of this lack of governance oversight in Resolution 4.1 requesting the approval of the discharge of the board.