Proxy Report - 07/06/2018
The main subject of this AGM is the renewal of the mandate of Mr de Chalendar, Chairman and CEO. We deeply regret that the Chairman did not restore the “One Share – One Vote” principle. However, we note the improvements made regarding the governance (board with a majority of independent members, Lead Independent director…). Therefore, we support his re-election.
However, we do not support his 2018 remuneration policy as the propositions made are exactly the opposite of our recommendations. The board proposes to increase the fixed remuneration, hence to increase the maximum amount of the bonus, and to decrease the LTI portion.
Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
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