Proxy Report - 22/05/2018
We would like to draw shareholders' attention to the astronomical compensation of the CEO Bernard Charlès. For fiscal year 2017, we valued his total remuneration at €24,705,684. Bernard Charlès is entitled to a performance shares grant, which has remained unchanged since 2015. Shareholders should note that the fair value of the LTIP grant this year represented almost 82% of total compensation (resolution 9).
Remuneration of Charles Edelstenne, Chairman of the Board, significantly exceeds the median of SBF120 non-executive directors, with a total of €1,027,100 (resolution 10).
The Company has clearly no intention to reconsider its remuneration policy nor does it intend to fairly rebalance its components (resolution 7 and 8).
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