Once again, the total remunerations granted to the CEO and the Chairman of the Board are excessive (items 4-5).
Items 6-7: the remuneration principles for the CEO and the Chairman of the Board for the next financial year remain unchanged.
Item 9 seeks shareholder approval to re-elect Jean-Pierre Clamadieu as Director, for a 4 year term. If approved, he will replace Jean-Martin Folz as independent lead director and Chairman of the Compensation and Governance Committee. He is considered as independent, ECGS recommends that shareholders approve this re-election, as well as the ratification of the cooptation of Elaine Sarsynski, also considered as independent (item 10).
AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
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>Good resilience of premiums given the context - AXA released its H1 2020 net income yesterday morning. Group revenues came in at € 52.4bn in H1 (-10% on a reported basis, +2% l-f-l), close to the consensus, with: 1/ robust growth in health insurance (+9% l-f-l), 2/ a moderate decline in P&C insurance (-1% year-on-year, of which -8% in Q2) while some lines were impacted by the economic crisis (and by solidarity measures), 3/ a more marked decline in life insurance pr...
ECGS notes 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. In general, Prosus is in compliance with the Dutch regulations relating to the organization and procedures of the AGM. Under ITEM 2 an advisory vote on the Company’s executive remuneration report is requested. ECGS notes that the total variable salary granted in the year under review, corresponding to 1062% of annual base salary, exceeds the maximum threshold under its guidelines. Accordingly, ECGS recommends to vote OPPOS...
The general meeting is convened to approve a sale of Direct Energy, Centricans North American energy supply, services and trading business, to NRG Energy for $3.625 billion in cash (equivalent to approximately £2.85 billion) on a debt free, cash free basis. We agree that the proposed cash offer is reasonable considering the current market circumstances and the group’s needs in urgent action in light of the Covid-19 impact on earnings and unbearable indebtedness. The disposal of Direct Energy will simplify the group’s structure and will allow focusing on a new strategy enabling the transition t...
Le rapport spécial des commissaires aux comptes ne comporte aucune convention, ni nouvelle, ni ancienne. L'absence de conventions au rapport spécial est, sauf opéra on non signalée aux commissaires aux comptes, le signe d'une bonne autonomie du projet de l'entreprise et d'une meilleure intégrité économique du groupe, surtout pour un groupe familial (résolution 4). Proxinvest estime que le taux d'indépendance du Conseil est très insuﬃsant (23%). Notons toutefois qu'André Delion, membre libre de conﬂits d'intérêts potentiels, assure désormais la présidence du Conseil depuis le 22 août 2019.Quan...
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