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

Total - AGM 29 May 2019

ITEM 10: The Company’s disclosure allows for a perfect understanding of amounts
granted. However, these amounts are too generous (€5.8 M, i.e. 278 times the French
minimum wage and 124% of the CAC 40 median) and ECGS considers a 80%-vesting
when reaching the median is excessive.

ITEM 11: In terms of structure and amounts, this remuneration policy does not respect
our Guidelines; however, this issue could be sanctioned if needed in 2020 when
shareholders vote on the implementation of this remuneration policy (ex-post vote in
2020 on 2019 remunerations). The changes proposed, especially the addition of a very
detailed quantitative environmental criterion is a very positive gesture, especially
considering the Company’s sector. Thus, this 2019 remuneration policy is better than the
previous one.

Underlying
Total S.A.

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