Report
EUR 492.40 For Business Accounts Only

Etude de l'AG du 10/05/2017

Malgré l'opposition massive des actionnaires minoritaires concernant les Bons Bretons, ni le Conseil de Surveillance ni les trois grands actionnaires (DongFeng, famille Peugeot, et l'Etat Français) n'ont fait cesser cette pratique.

Nous recommandons d'approuver l'émission des BSA au profit de General Motors dans le cadre de l'acquisition d'Opel/Vauxhall. L'opération est soutenue par les trois principaux actionnaires.

Proxinvest s'oppose à la politique de Rémunération 2017 du Président du Directoire et des Membres du Directoire car celles-ci proposent d'augmenter les bonus annuels cible et maximal. La rémunération de Carlos Tavares est excessive en s'établissant à 6 M€ pour l'exercice 2016. La politique de rémunération mise en place pour 2017 pourrait augmenter ce montant.

Underlying
Peugeot SA

Peugeot is an automobile manufacturer (cars and light commercial vehicles), supported by two brands: Peugeot and Citroen. Co.'s activities are divided into four main segments: Automobile (Co. designs, manufactures and markets passenger cars and light commercial vehicles under Peugeot and Citroen brands), Finance (Co. provides retail and wholesale financing to customers and dealer networks), Automotive equipment (Co. produces Interior Systems, Automotive Seating, Automotive Exteriors and Emissions Control Technologies) and Other businesses (Co. produces scooters).

Provider
Proxinvest
Proxinvest

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.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

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. 

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