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Expert Corporate Governance Service (ECGS)
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Somfy SA - Assemblée Générale des actionnaires du 22 Mai 2019

Pour la deuxième année la société soumet au vote de ses actionnaires les rémunérations attribuées au titre de l'exercice passé. Bien que la société communique clairement les montants attribués, certains éléments permettant une parfaite compréhension de ceux-ci manquent, notamment le taux de réalisation de chacun des critères du bonus annuel.

Par ailleurs, bien que la société n’ait pas attribué d’actions gratuites à ses dirigeants en 2018, la politique de rémunération prévue pour 2019 demeure inchangée: les critères d’attribution ne peuvent pas être considérés de long-terme puisque les performances ne sont mesurées que sur 2 années. Ainsi, nous regrettons qu’une rémunération de long-terme ne soit pas prévue en 2018 et qu’elle continue de reposer sur des indicateurs de performance inférieurs à 3 ans pour 2019.

Nous signalons aussi que les comptes concernant l’année 2017 ont été retraités à la suite du changement de méthode de consolidation de Dooya (application de la norme IFRS 5). Les comptes 2018 respectent également cette méthode.

Underlying
Somfy S.A.

Somfy SA. Somfy SA is a France-based company engaged in the design, manufacture and development of controls for openings and closures of homes and commercial buildings. The Company's range of products include automatic controls for awnings, rolling shutters, storefront grills, garage doors and gates, motors and controls for roller shutters and curtains, venetian blinds and all interior window coverings and decoration, alarm systems and for protecting large utility facilities. It has operations in France, Germany, Greece, Romania, Italy, Middle East, Asia Pacific, and the United States, among others.The Company operates through Garen Automacao, Neocontrol Solucoes em Automacao SA and MyFox, among others. It joins venture with iHome in South East Asia.

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 :

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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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