Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio.
Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes :
Each theme is rated taking into account several comprehensive sub-categories.
Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter. Indeed, our process is supported by a network of local experts that have a deep knowledge of each local market best practices (from both customs and regulatory points of views).
If you are interested in the Proxinvest Corporate Governance Rating ®, please contact directly Proxinvest ( or +33(0)1 45 51 50 43).
KONE is an elevator and escalator industry group based in Finland. Co. is engaged in the provision of products and services for the installation, modernization and maintenance of elevators, escalators and automatic building doors. Co. provides its products and services throughout the entire lifecycle of the equipment, beginning from the installation of new equipment to the maintenance and modernization during their lifecycle and the full replacement of the equipment. Co.'s customers are active in industry segments such as residential, office, retail, public transportation, hotel, hospital, and marine.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
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Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Q2 surprised positively, adj. EBIT 44% was above expectations. On average, we left 2020-2021e EBIT unchanged, with good upgrades in Volvo, ABB, Alfa Laval. PMIâ€™s are indicating a return to organic growth in Q4â€™20, we see upside to forecasts in some of the short-cycle names. The stronger SEK is a headwind and a risk to 2021e adj. EBIT of 4-7% for most companies. We continue to see attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso Outotec, Electrolux We are cautious on: Assa Abloy, Kone, WÃ¤rtsilÃ¤
In general, Unilever plc ("Unilever") is in compliance with the UK regulations relating to the organisation and procedures of the Extraordinary General Meeting. Under ITEM 1 approval is sought for a unification of Unilever under a single parent company: Unilever plc (i.e. Unilever NV will cease to exist). First of all, ECGS strongly endorses the strategic rationale of the (proposed) unification. It acknowledges the increased strategic flexibility and enhanced corporate governance in terms share structure and applicable regulators. Despite that the unification offers some corporate governanc...
Items 3 and 4: Remuneration report and policy Our concerns regarding the excessive short-term incentive overwhelm the positive features of the Hargreaves Lansdown's remuneration such as acceptable quantum and the payout adequately aligned with performance. We strongly disagree with any remuneration weighted more towards rewarding short-term performance and any LTI awards without performance conditions. Item 21: Amend the Hargreaves Lansdown Sustained Performance Plan 2017 We do not consider the proposed plan conditions satisfactory: ECGS strongly believes that the executive LTI should be su...
In general, Colruyt is compliant with the Belgian regulations relating to the organisation and procedures of an Extraordinary General Meeting. Under ITEM II.3, the board of directors seeks authorisation to increase the Company's share capital to issue shares to its employees. As a matter of principle, ECGS generally favours employee stock ownership plans since such plans help to align the interests of employees with those of their companies. However, since the authority requested is not conform to its guidelines, ECGS recommends to vote OPPOSE. In ECGS' view, ITEMS II.4 - II.8 are enabling r...
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