Etude de l'AG du 20/04/2017
We note that shareholders are not requested to vote on the proposed dividend in this meeting. We consider this to be deviating from market practise and we urge the Company to put proposed dividend up for shareholders approval.
Under agenda item 8a and 8b, it is proposed to reappoint Mr. Das and Mr. de Carvalho as non-executive members of the Board of Directors for a term of 4 years.
The independence rate of the Board of Heineken Holding is low compared to Dutch market standards and does not comply with the stipulations of the Dutch Corporate Governance Code (maximum of 1 non-independent Board member). Given the low independence rate of the Board, we recommend OPPOSE to the reappointment of Mr. Das (agenda item 8a).
Mr. de Carvalho is the eldest son of Mrs. de Carvalho-Heineken. Although we appreciate the personal involvement of the Heineken family in Heineken Holding, we do not agree with the appointment of Mr. de Carvalho since he is non-independent (given the family ties with the Heineken family). Therefore, we recommend OPPOSE to the reappointment of Mr. de Carvalho (agenda item 8a).
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