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. 

Expert Corporate Governance Service (ECGS)

Stora Enso - AGM 19 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. Although we have some disclosure related concerns, the  Company’s executive compensation is considered to be fair in the year under review. The annual base salary is in line with Finnish market practice. The outcome of the STI is relatively modest, which is in line with the somewhat deteriorated company performance. Total variable remuneration is pred...

Expert Corporate Governance Service (ECGS)

Pandora - AGM 11 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 3 approval of the Company's first remuneration report is sought. As a matter of principle, we believe that performance criteria for the STI (and LTI) should be set and recorded at the beginning of the performance period and performance measures should never be adjusted after the performance period has passed. In this respect, we note that the board of directors decided to award executive management with a revised ST...

Expert Corporate Governance Service (ECGS)

AP Moeller-Maersk - AGM 23 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person.Under ITEM C, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under our guidelines, we no longer approve discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such (legal) requirement in Denmark, we recommend to vote OPPOSE. Under ITEM E approval of the Company's first remuneration is sought. We hav...

Expert Corporate Governance Service (ECGS)

Svenska Handelsbanken - AGM 24 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. Although there is no link between pay and performance given the absence of any variable compensation, we consider the Company’s executive compensation in the year under review to be in line with the requirements of the applicable regulations and general Guidelines governing remuneration policies in credit institutions of the Swedish FSA (see D above)....

Expert Corporate Governance Service (ECGS)

Revenio Group - AGM 17 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. We welcome the level of disclosure and have no (major) concern over the Company’s executive compensation in the year under review. Accordingly, we recommend to vote FOR. Under ITEM 13 the (re-)election of the board of directors is proposed. Although there is sufficient independent representation on the board, we have some concerns over the level of f...

Expert Corporate Governance Service (ECGS)

Kering - Assemblée générale des actionnaires du 24 avril 2019

Il convient premièrement de relever que la Société a réalisé d'excellents résultats en 2018, portés notamment par la forte croissance du marché du Luxe. Comme pour l'année précédente, Proxinvest note un manque de contre-pouvoir au sein de la société : nous remarquons le cumul des fonctions de Président du Conseil d'administration et de Directeur Général, ainsi que l'absence d'executive sessions généralisées. Aussi, nous remarquons que la présence de trois censeurs, exerçant chacun des fonctions de direction au sein du Groupe Kering, amoindrit l'efficacité du contrôle de l'action des dirigean...

Expert Corporate Governance Service (ECGS)

Stora Enso - AGM 19 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. Although we have some disclosure related concerns, the  Company’s executive compensation is considered to be fair in the year under review. The annual base salary is in line with Finnish market practice. The outcome of the STI is relatively modest, which is in line with the somewhat deteriorated company performance. Total variable remuneration is pred...

Expert Corporate Governance Service (ECGS)

Pandora - AGM 11 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 3 approval of the Company's first remuneration report is sought. As a matter of principle, we believe that performance criteria for the STI (and LTI) should be set and recorded at the beginning of the performance period and performance measures should never be adjusted after the performance period has passed. In this respect, we note that the board of directors decided to award executive management with a revised ST...

Expert Corporate Governance Service (ECGS)

AP Moeller-Maersk - AGM 23 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person.Under ITEM C, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under our guidelines, we no longer approve discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such (legal) requirement in Denmark, we recommend to vote OPPOSE. Under ITEM E approval of the Company's first remuneration is sought. We hav...

Expert Corporate Governance Service (ECGS)

Svenska Handelsbanken - AGM 24 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. Although there is no link between pay and performance given the absence of any variable compensation, we consider the Company’s executive compensation in the year under review to be in line with the requirements of the applicable regulations and general Guidelines governing remuneration policies in credit institutions of the Swedish FSA (see D above)....

Expert Corporate Governance Service (ECGS)

Revenio Group - AGM 17 March 2021

We note that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. Under ITEM 10 approval of the Company's first remuneration report is sought. We welcome the level of disclosure and have no (major) concern over the Company’s executive compensation in the year under review. Accordingly, we recommend to vote FOR. Under ITEM 13 the (re-)election of the board of directors is proposed. Although there is sufficient independent representation on the board, we have some concerns over the level of f...

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