Report
Pauline Delecourt
EUR 500.00 For Business Accounts Only

Virbac 18 juin 2019

Tout d’abord, Proxinvest regrette que les rémunérations de chacun des membres du Directoire soient regroupées au sein d’une même résolution (résolution 13). En raison du regroupement des rémunérations au sein d’une même résolution, de l’absence de communication des taux de réalisation et des objectifs à atteindre et une hausse significative des bonus nous ne soutiendrons pas la résolution 13.

De même, en raison de ce manque de transparence Proxinvest recommande de s'opposer aux résolutions 14 et 15, relatives aux rémunérations des dirigeants pour le nouvel exercice.

En raison d’un faible taux d’indépendance du conseil, nous recommandons l’opposition pour les renouvellements de Philippe Capron et Marie-Hélène Dick (résolutions 5 et 6). En revanche, Proxinvest recommandera l’approbation de la nomination de Cyrille Petit en résolution 20.

Underlying
Virbac S.A.

Virbac is an independent veterinary pharmaceutical laboratory. Co. develops and provides veterinarians and farmers with medicines and vaccines that improve the health of food producing animals. Co. markets a range of products designed for pets and livestock. It offers seven types of products for companion animals (Parasiticides, Immunology, Antibiotics/dermatology, Specialties, Equine, Specialized pet food and Other products), and four types of products for food producing animals (Bovine parasiticides, Bovine products (excluding parasiticides), Pig/poultry antibiotics and Other products). Co. markets its products in the ethical (veterinarian) and OTC markets.

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
Pauline Delecourt

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