Report
Expert Corporate Governance Service (ECGS)
EUR 500.00 For Business Accounts Only

Sage - February 27, 2019

Leadership Changes
Stephen Kelly stepped down as a Director and CEO on 31 August 2018. Steve Hare was appointed CEO on 2 November 2018. No information regarding the succession process has been provided.

Item 13: Approve the Remuneration Report
This relates to Stephen Kelly, the former CEO. The structure of remuneration is generally satisfactory, though maximum total variable remuneration slightly exceeds guidelines. As no bonus was paid, the concerns over the overlap of performance conditions is slightly mitigated. The severance payment does not appear excessive, though this depends partially on the nature of his current employment given that he continues to receive benefits such as a company car and pension contributions, which are not considered appropriate

Underlying
Sage Group PLC

Sage Group is a technology provider that assists to manage businesses of all sizes. Co. provides a suite of cloud business management solutions and services including accounting, financials, enterprise management, people, payroll, payments and banking, as well as marketplace apps that can be provisioned to match the exact needs of any business. Co. has three reportable segments in which it operates, being Northern Europe (the U.K. and Ireland), Central and Southern Europe (Germany, Switzerland, Poland, France and Portugal) and NorthAmerica (the U.S., Canada and North America Intacct).

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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