Etude de l'AG du 10/05/2017
Despite the high level of constestation regarding the Bon Bretons (Authority to issue warrants as an anti-takeover device) neither the supervisory board nor any of the three lagest shareholders (DongFeng, the French state, and the Peugeot family) have ended this practice. As such we oppose the authority to issue these warrents in Resolution 32)
We believe shareholders should support the issuance of warrants to General Motors in the framework of acquisition of Opel/Vauxhall (Resolution 31). We note that the acqusition is supported by the Company's three largest shareholders.
We oppose the 2017 remuneration policy votes (Resolutions 16 & 17) because the new policy proposes increase bonus targets and maximums leading to excessive remuneration for Carlos Tavares (Chairman of the Management board) who already recieved 6 M€ in 2016 under the old plan. And leadind to excessive amounts of remuneration for the other members of the management board.
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).
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