Etude de l'AG du 17/05/2017
ITEM 7: The company proposes to increase its Chairman and CEO's fixed remuneration up to €700,000. In return, it proposes to decrease target and maximum bonuses to 100% and 135% respectively (vs 109% and 163% in 2016). We would have preferred a smaller increase repeated on several years.
Moreover, the company proposes to implement a LTIP. Hence, the 2017 Chairman and CEO's remuneration structure is more in line with our Guidelines than the previous structure.
Furthermore, amounts at stake remain moderate (the theoretical maximum total remuneration of €2,122,500 represents 80% of the SBF 120 median and 67% of the Industrial Goods and Services median). In addition, the company indicates that in 2017, it will improve its disclosure (individual achievement rates will be disclosed).
Thus, we support this resolution.
Thales is an electronics and systems group, serving defense, aeronautics, transport, space and security markets. Co.'s operations can be divided into four operating segments: Aerospace (Avionics, Space), Transportation (Ground Transport Systems), Defence & Security (Secure Communications & Information Systems Land and Air Systems, Defence Mission Systems), and DCNS. Co. designs and delivers systems for all four environments: air, land, sea and space. These systems detect and assess threats, manage information, support command decisions and control engagements through to threat neutralization. Co. is active in ground transportation; air transport; navigation systems.
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