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

Vonovia - AGM 16 May 2019

General: Supervisory Board member Prof. Dr. Edgar Ernst is a member of the Advisory Committee of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines.

Item 4: We recommend to oppose the discharge of the Supervisory Board due to the granting of a significant severance payment to the former CFO Dr. A. Stefan Kirsten, who left the Management Board at his own request, as we do not consider him being eligible to a severance payment and the payment as such as well as its volume as inappropriate.

Item 5: KPMG, Berlin, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit fees. However, we note that KPMG has audited the Company since the financial year 2005 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of KPMG as auditor.

Underlying
Vonovia SE

Vonovia is a residential real estate company based in Germany. Co. maintains 357,117 residential units and a portfolio worth approximately Euro24.1 billion in cities and regions throughout Germany. Co. manages residential units, garages and parking spaces as well as commercial units. Co. focuses on customer orientation and tenant satisfaction, offering tenants affordable, attractive and livable homes, as well as offering additional real estate-related services. Co.'s residential units are located in contiguous settlements at approximately 770 locations in Germany.

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