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Rémy Cointreau - AGM 23 July 2020

The 2019-2020 financial year will have been marked by the departure of Mrs. Valérie Chapoulaud-Floquet as Chief Executive Officer (CEO) on November 30, 2019. She has been replaced by Eric Vallat.

Item 10: The appointment of Mazars to replace the firm Auditeurs et Conseils Associés as statutory auditor seems appropriate to us insofar as the firm Auditeurs et Conseils Associés had been the statutory auditor for 30 years, which greatly exceeds our maximum of 15 years (in France: 3 successive mandates, i.e. 18 years) aiming at a better rotation of statutory auditors.

Items 11, 12 and 14: The remuneration policies for the Chairman and the Chief Executive Officer do not disclose the amounts involved. This lack of transparency amounts to giving the Board a blank cheque in determining the amounts to be allocated. This does not correspond to the practices of the market (especially for an SBF 120 company). Although the compensation policy is unsatisfactory, it does not constitute a deterioration of the previous compensation policy, so we prefer to recommend voting against the compensation report in order to force the Board to present an amended compensation policy.


Remy Cointreau S.A.

Remy Cointreau is an operator in the global wines and spirits market. Co. produces, markets and distributes Cognac, Liquors and Spirits and other non-group brand alcoholic beverages. Co.'s primary cognac brand is Remy Martin, produced from Petite Champagne and Grande Champagne eaux-de-vie. Co.'s principal liquor and spirits include the following brands: Cointreau, Passoa, Metaxa, St Remy, and Mount Gay. Co. also operates a distribution network that handles products from partners and third-party companies. Major non-group products distributed by Co. include Scotch Whiskies (Edrington brand), Champagne (Piper-Heidsieck and Charles Heidsieck brands) and Vodka.


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