For the first time, on September 27, 2013 Etica Sgr voted at each item on the agenda in Conagra shareholders’ meeting, an American packaged food Company.
It voted in favor of the election of all directors, asking to have more attention on women presence in the Board, as requested by the international standards. Instead Etica Sgr abstained about the ratification of the appointment of the Independent Auditor, in line with the past votes of Etica on American companies AGM. Etica Sgr voted for the remuneration of the CEO and the Executive Directors because it appreciated the information transparency in the remuneration reporting, related both to short-term and long ones variable remuneration indicators. Nevertheless, Etica Sgr underlined the absence of remuneration schemes linked to ESG issues goals and the risk to have a disproportionate rapport between the fix remuneration and the variable one.
Finally Etica Sgr voted against the shareholder proposal regarding the bylaw change in regard to vote counting because it considers the current methodology already fair to shareholders.
27 September 2013Engagement Foreign companies