General Mills | 2014

For the fourth time, on September 23rd 2014 has voted at the General Mills’ shareholder annual general meeting, an American grocery company, stressing the management on some environmental, social and governance (ESG) issues.

Etica Sgr voted for all items in agenda, with the exception of the advisory vote to ratify the appointment of the independent auditor, where Etica Sgr abstained. No corporate governance issues have been found on the composition of General Mills’ Board so Etica Sgr voted for the election of all thirteen proposed directors. Regarding the remuneration policy of the Company, it explains in a good detail the indicators underlying the variable part of the remuneration and other good practices are present; although, Etica underlined the lack of environmental, social and governance (ESG) parameters and the ratio between CEO remuneration and the average of all Company’s employees one.

During the annual general meeting two shareholder proposals were presented: one to assess the environmental impact of non-recyclable packaging and one to ask a policy removing GMO ingredients from the products (both filed by As You Sow, member of ICCR). Etica Sgr, considering these resolution compliant with its Guidelines, stated its support voting in favor.

Finally, Etica Sgr wanted to thank the Company for the answer to Etica’s request of information, sent on November 14, 2013.

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