Etude de l'AG du 19/04/2017
This year we note the resignation of the Co-CEO Anke Schäferkordt as well as independent director Jacques Santer (Resolution 5.1). In their place the Company has nominated Bert Habets as an executive director (Resolution 5.2) and Jean-Louis Schiltz as a non-executive director (Resolution 5.3). While we support the election of Jean- Louis-Schiltz given his independence we are gravely concerned with the feeble indepdence of 16.7% on the board. Furthermore, we note that following the resignation of Anke Schäferkordt there are no longer any women on the board.
We note our renewed concern with the absence of a vote on remuneration, while not required in Luxembourg is now European best practice. We raise these concerns of this governance oversight in Resolution 4.1 requesting the approval of the discharge of the board.
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