Eutelsat Communications - 2018, november 8th
Items 5 and 6: The board doesn’t comprise a majority of independent directors, however Proxinvest will support the re-election of BpiFrance Participation as it is the main shareholder of the company. However the re-election of Ross McInnes will not be supported even if he is considered as independent considering that he has too many directorships in listed companies.
Item 7 to 13: The compensation report has a high level of disclosure and the quantum respects mainly our guidelines. Moreover the company decided to change some of the performance conditions to avoid repetition between the STI conditions and the LTI conditions and the company will reduce the maximum value given through the LTI.These improvements allow Proxinvest to support items 9 to 13. However, item 7 will not be supported as the compensation of Michel de Rosen on an annual basis is excessive compared to his peers’ compensations.
Eutelsat Communications is a private telecommunications satellite operator involved in the design, establishment, operation and maintenance of satellite telecommunications systems covering a large geographical area (extended Europe (including North Africa and the Middle East), sub-Saharan Africa, parts of America and Asia). Co. provides its customers broadcasting capacity and associated services to transmit TV programmes via satellite, cable or Internet Protocol (IP) networks. As of June 30, 2013, Co. owned and operated 31 satellites in geostationary orbit and 4 satellites in inclined orbit.
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