Proxy Report - 17/05/2018
Le principal sujet de cette assemblée est l'acquisition par Unibail-Rodamco de la société américaine Westfield (résolutions 9 à 14). L’opération proposée est stratégiquement cohérente et financièrement acceptable pour les actionnaires d'Unibail-Rodamco. Les impacts de cette opération sur l'actionnariat et la gouvernance sont eux aussi acceptables puisque l’actionnariat restera plutôt diversifié et le conseil de surveillance du nouveau groupe sera toujours majoritairement indépendant.
Cependant, en cas de réalisation de l'opération, la politique de rémunération des membres du Directoire pour 2018 sera modifiée afin d'intégrer notamment l'augmentation du fixe (+25% pour le Président du Directoire) et l'augmentation du bonus maximum (+66,67%), portant ainsi la rémunération totale maximale du premier dirigeant de 4M€ préalablement à cette opération à 5,6 M€ (+40,6%).
L'adoption de pratiques américaines inflationnistes et peu saines n'est pas acceptable et nous ne soutenons pas les résolutions 25 et 26.
Unibail Rodamco SE is a France-based commercial property investment company operating in the commercial real estate industry. The Company is engaged in the development, construction, and management of real estate in Europe. Its assets portfolio is divided into three main business segments: Shopping Centers, which include shopping centers in France, Spain, the Netherlands, Denmark, Sweden, Finland, Poland, the Czech Republic, Slovakia and Austria; Offices, comprising a number of business premises, warehouses and workshops located mainly in the Paris central business district and La Defense; and Convention and Exhibition complexes in Paris through two companies, Viparis and Comexposium, which are jointly owned by the Company and the Paris Chamber of Commerce and Industry (CCIP). Viparis manages a portfolio of venues in Paris, while Comexposium operates as an event organizer in France.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.