Wienerberger – AGM 5 May 2020
WARNING: Due to the COVID-19 pandemic, the AGM will take place but no shareholders will be allowed to attend personally. Shareholders are invited to vote by proxy or via the independent company representative.
Item 7.2: Approval is sought for the remuneration of the Supervisory Board members for 2020 onwards. We do not consider the absolute amount of fees proposed as inadequately high or exceeding market average. However, we consider the increase as significant in relative terms (+39% for the Chairman compared to 2019) and therefore recommend opposition.
Item 8: The Board shall be authorised to acquire the Company's own shares within legal boundaries (up to 8% of share capital within a period of 30 months). However, we note that this authorisation permits shares to be repurchased at a premium exceeding 10% to market price in certain circumstances which exceeds our guidelines. We recommend opposition.
Wienerberger is a building materials group. Co.'s segments include: Clay Building Materials Eastern Europe, Clay Building Materials Western Europe, Pipes & Pavers Eastern Europe, Pipes & Pavers Western Europe, North America and Holding & Others. The Clay Building Materials Europe division covers activities in the areas of clay blocks, facing bricks and roof tiles. The Pipes & Pavers Europe division includes Co.'s business activities with plastic pipes, ceramic pipes and concrete pavers. The North America division covers activities in the areas of facing bricks, plastic pipes and concrete products. The Holding & Others division covers activities in the areas of clay blocks.
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