For the first year, on October 24, 2012, Etica Sgr voted, through web platform, at the general meeting of shareholders of Symantec, an American global computer security software corporation, which is present in Etica’s funds as the best performer in its sector.
Etica SGR voted against the election of two directors out of a total of nine (because of the lack of a real independence and the presence of these members in three corporate Committee). Instead, Etica abstained about the ratification of the appointment of the Independent Auditor, since Symantec has proposed to reconfirm KPMG for the 2013 financial year, former auditor of the Company for more than seven years. Finally, Etica voted in favor of the approval of the Compensation Plan of the management and in favor of a motion of a minority shareholder concerning the maintenance of assets by the directors until retirement.
Etica Sgr also underlined that good corporate governance practices provide for the separation of the role of Chairman from that of CEO and the importance relating to gender equality on the Board. Finally Etica proposed the inclusion of ESG targets for the definition of the variable part of compensations and required the figure of the gap between the CEO remuneration and the average of employees’ one (very important data in order to understand the real ratio of company’s remunerations).
24 October 2012Engagement Foreign companies