Etude de l'AG du 29/06/2017
Nous alertons l'entreprise sur le manque d'indépendance de son conseil de surveillance. En effet, seulement 30% des membres du conseil sont considérés comme libres de conflits d'intérêt selon Proxinvest, tandis que la société estime que son conseil est indépendant à au moins 50%. La société devrait davantages suivre les recommandations de son code de gouvernance afin de juger de l'indépendance de son conseil avec plus de justesse.
La rémunération des dirigeants pose également problème sur plusieurs points : des problèmes de structure (augmentation non justifiée du fixe, rémunération actionnariale trop importante), des problèmes de transparence (concernant le "management agreement"), des problèmes de transparence (concernant les critères de performance du bonus annuel) et des problèmes de quantum, avec une rémunération totale potentiellement trop importante en comparaison des sociétés à capitalisation proche. Par conséquent, nous ne soutiendrons pas les résolutions 12 et 14.
Valneva, together with its subsidiaries, is focused on vaccine development and antibody discovery. Co. generates revenue from both its marketed product, a vaccine for the prevention of Japanese encephalitis (IXIARO®/JESPECT®), commercial partnerships around a portfolio of product candidates and licensed technology platforms (EB66® cell line, VIVA,Screen antibody discovery technology, and the IC31® adjuvant) developed by Co. Related business activities include product research and development, regulatory and clinical activities, manufacturing of commercial product and advanced clinical product candidates, as well as administrative, corporate development, and marketing and sales activities.
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.
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