Crédit Agricole - AGM and EGM 21 May 2019
Disclaimer: ECGS does not provide any service to the Company, except assistance on managing their voting guidelines (provided by Proxinvest, the French partner of ECGS).
As in previous years, the Company proposes the approval of each new regulated agreement in specific resolutions, which allows shareholders to approve them one by one. However, ECGS regrets that the former ones that continue to have an effect are not submitted to the vote of shareholders.
Given the size and lack of independence on board, ECGS will not support the re-appoints of: Véronique Flachaire, Jean-Pierre Gaillard and Jean-Paul Kerrien in resolutions 8, 10 and 11.
However, given the separations of functions of Chairman and Chief Executive Officer, ECGS will support the re-appoint of Dominique Lefebvre (resolution 9).
Resolutions concerning the remuneration of the Chairman of the Board will be supported due to controlled amounts (resolutions 13 and 16), as well as those concerning the ex-post remuneration of the Chief Executive Officer and the Deputy Chief Executive Officer (resolutions 14 and 15).
However, in the absence of positive changes, we will not support the resolutions concerning the ex-ante remuneration of the Chief Executive Officer and the Deputy Chief Executive Officer (resolutions 17 and 18).
Credit Agricole is active in the market of retail banking and related businesses. Co. provides day-to-day banking, savings products, mortgage and consumer loans, insurance, private banking, asset management, lease finance and factoring, corporate and investment banking. Its activities can be divided into six business lines: French Retail Banking - Regional Banks; French Retail Banking - LCL; International Retail Banking; Specialized Financial Services; Savings Management and Insurance; and Corporate and Investment Banking. Co.'s customers are personal customers, farmers, small businesses, companies and local authorities. As of Dec 31 2013 Co.'s total assets amounted to Euro1,536,873,000,000.
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