Report
Charles Pinel
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Société L.D.C., Assemblée Générale du 28 Août 2019

Gérard Chancereul, âgé de 81 ans, fondateur de LDC dont la famille détient 17,67% du capital et 20,32% des droits de vote, ancien dirigeant et actuel Président du conseil de surveillance n'a pas sollicité le renouvellement de son mandat. La société a indiqué à Proxinvest que le futur Président du conseil sera nommé lors de la séance du conseil qui se tiendra à l'issue de l'assemblée générale du 22 août 2019 et qu'à ce jour, il n'y a qu'un candidat qui est André Delion. Le conseil de surveillance devrait donc être ainsi présidé par un membre libre de conflits d'intérêts potentiels (voir résolutions 5 et 7).

Les rémunérations des dirigeants apparentés aux principaux actionnaires sont acceptables malgré l'absence de part à long-terme. En effet, les montants sont raisonnables et leurs positions d'actionnaires alignent leurs intérêts avec ceux des autres actionnaires. Cependant, la politique de rémunération de Philippe Gelin, qui a rejoint le Directoire en mars 2017 et qui ne semble pas lié aux familles actionnaires, ne comprend pas de part long-terme. Dans ces conditions, la résolution 11 ne sera pas soutenue.

Underlying
LDC SA

Societe LDC SA is a France-based holding company engaged in food processing. The Group provides poultry products, as well as a range of delicatessen food. It has four business lines: Upstream division, which is responsible for branch management; Poultry division, engaged in the poultry, pig and cattle farming, as well as egg production and others; The Delicatessen division, offering ready-to-eat meals and snacks like pizzas, sandwiches, tarts and desserts and International division which focuses on international development with countries specific strategies. It markets its products under various brands, including Le Gaulois, Loue and Traditions d'Asie.

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.

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Analysts
Charles Pinel

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