Report
Jehanne Leroy
EUR 500.00 For Business Accounts Only

SES, 4 Avril 2019

Comme depuis plusieurs années, Proxinvest critique le fait que la société continue à ne pas communiquer les montants individuels de rémunération attribués à ses dirigeants, alors même qu'elle indique se conformer à certaines pratiques de la place de Paris, puisque c'est là que la majorité de ses FDR (Fiduciary Deposit Receipts - certificats de dépôts fiduciaires) sont cotés. Ce manquement est sanctionné dans la résolution 9.

Notons toutefois que la Directive Droit des Actionnaires II ("SRD II) doit être transposée au plus tard en juin 2019. Or, SRD II a formellement introduit à l’échelle européenne un droit de regard sur les rémunérations, ainsi qu’une série d’obligations de divulgation normatives. Ainsi, la société devrait devoir publier un "rapport sur la rémunération clair et compréhensible, fournissant une vue d’ensemble complète de la rémunération, y compris tous les avantages, quelle que soit leur forme, octroyés ou dus au cours de l’exercice le plus récent à chaque administrateur, dont les dirigeants nouvellement recrutés et les anciens dirigeants" (article 9 ter).

Underlying
SES SA FDR (Class A)

SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.

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. 

Analysts
Jehanne Leroy

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