Expert Corporate Governance Service (ECGS)
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Unilever PLC - AGM 2 May 2019

In general, Unilever plc (Unilever) is in compliance with the UK regulations relating to the organisation and procedures of the Annual General Meeting.

Under ITEM 2, approval is sought for the Company's remuneration report. As the maximum variable salary, in aggregate corresponding to 852% of annual base salary, substantially exceeds the threshold of 300% of annual base salary under its guidelines, ECGS recommends to vote OPPOSE.

Under ITEMS 3-16, it is proposed to (re-)elect the board of directors.

In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the re-election of: Mr. Nils Smedegaard Andersen (ITEM 3) and Ms. Judith Hartmann (ITEM 7).

Finally, under ITEM 24, the board of directors proposes to maintain the delay in calling meetings other than AGMs from 21 to 14 days. In ECGS' view this proposal is not in the shareholders' best interests and therefore it recommends to vote OPPOSE.

Unilever PLC

Unilever is a consumer goods manufacturing group based in the United Kingdom. Co. is engaged in supplying consumer goods in the refreshments, foods, home and personal product categories. Co. supplies its consumers product for nutrition, hygiene and personal care and is active in emerging markets in Asia, Africa, Central & Eastern Europe and Latin America. Co.'s portfolio includes such well-known brands as Knorr, Lipton, Hellmann's, Magnum, Omo, Dove, Lux and Axe/Lynx. Co. manages its brands under the following four category headings: savoury, dressings and spreads; ice cream and beverages; personal care; and home care. Co.'s products are sold in over 190 countries around the world.


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