Proxinvest - Accor SA Accor - AGM 30 April 2019

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Accor - AGM 30 April 2019

ITEMS 17 and 18: the company is one of the few CAC 40 companies that does not
disclose individual achievement rates of annual bonus financial criteria. Such a poor
disclosure does not allow to perfectly understand amounts granted and, despite
acceptable amounts, we do not support items 17 and 18.

ITEM 19: in its 2019 remuneration policy, the company proposes a significant change:
the introduction of a LTI cap at 200% of the fixed remuneration. In the previous
remuneration policy, such a cap was not indicated. Therefore, this change is very
welcome. Not only it caps LTI to €1.9 M (vs €6.5 M previously) but it also caps the total
remuneration to €4.7 M (vs €9.32 M previously). Thus, we support the new remuneration
policy.

11/04/2019 1 EN

Underlying

Accor SA

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FR0012403830 Euronext Paris France

Provider

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.

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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.

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Analysts

Expert Corporate Governance Service (ECGS)

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Accor - AGM 30 April 2019

Nokia - Assemblée Générale des actionnaires du 8 avril 2021

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