Carrefour | 2013

On 23th April 2013 Etica Sgr joined for the first time the AGM of Carrefour, the French multinational retailer.
Etica Sgr voted in favor of all agenda items: Etica Sgr has considered positively the balanced dividend policy and the company corporate governance structure, which is in line with the main international best practice, as the high percentage of Independent Directors and of women in the Board. Etica Sgr voted in favor of all 4 Directors candidates because it has appreciated their skills and it has nothing to report about their backgrounds.
Etica Sgr has underlined to Carrefour that the Chairman and CEO roles should be separated, in order to increase the balance of powers in company management.
Moreover Etica Sgr has voted in favor of all Extraordinary Meeting items, as the shareholders proxy voting strengthening and the authorizations issuance of equity.

Engagement Foreign companies
You may also be interested