Proxy Report - 17/05/2018
To ensure the independence of the Board, we recommend that at least 50% of its members be independent. We regret that the Company does not comply with this recommendation since only 42% of its Board members are considered independent according to our guidelines.
ITEM 12, 13 and 15: We commend the Company on the quality of its disclosure regarding executive remuneration and as such, we recommend that shareholders approve these resolutions.
ITEM 14: Given the lack of a LTIP, we recommend that shareholders oppose the remuneration policy.
ITEM 3: we recommend that shareholders oppose the dividend payment given a high payout ratio, insufficient FCF, and an elevated debt burden.
Suez is active in each stage of the water and waste cycles. Co. is organized around three main segments: Water Europe (water distribution and treatment services, particularly under concession contracts, to individuals, local authorities and industrial clients); Waste Europe (waste collection and treatment services for local authorities and industrial clients; these services include collection, sorting, recycling, composting, energy recovery and landfilling for both non-hazardous and hazardous waste) and International (water, waste and engineering services, with a special focus on risk-management resulting from specific local environments by setting up partnerships).
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