{"id":33876,"date":"2021-03-31T14:46:52","date_gmt":"2021-03-31T12:46:52","guid":{"rendered":"https:\/\/www.eticasgr.com\/storie\/news-events\/telecom-italia-2021"},"modified":"2021-04-26T17:18:56","modified_gmt":"2021-04-26T15:18:56","slug":"telecom-italia-2021","status":"publish","type":"post","link":"https:\/\/www.eticasgr.com\/en\/storie\/vote-in-assembly\/telecom-italia-2021","title":{"rendered":"TELECOM ITALIA Spa | 2021"},"content":{"rendered":"

The vote of Etica Sgr<\/strong><\/h2>\n

On the following points Etica Sgr has expressed a vote not in line with management\u2019s recommendations:<\/p>\n

Report on the remuneration policy and compensation paid \u2013 Approval of the first section (remuneration policy) <\/strong><\/h3>\n

Etica Sgr voted not in favour, because not all the requirements in the Engagement Policy are met. In particular, those relating to the severance agreement and the use of discretion. With reference to the severance agreement, it may exceed the maximum number of months set by Etica Sgr’s Engagement Policy, if including payments related to non-compete agreements.<\/p>\n

The discretion noted refers to the possibility of exercising the so-called \u201cLump Sum\u201d factor in the form of entry bonuses for the hiring of strategic resources. However, Etica Sgr takes a positive view of the presence of ESG KPIs in both the short- and medium\/long-term variable components.<\/p>\n

Report on the remuneration policy and compensation paid \u2013 Non-binding vote on the second section (2020 compensation) <\/strong><\/h3>\n

Etica Sgr voted not in favour because the criterion regarding the use of discretion is not met.<\/p>\n

7.2 Appointment of the Board of Directors: Appointment of Directors – List Voting<\/strong><\/h3>\n

Etica Sgr supported the list of candidates for the Board of Directors presented by institutional investors and managers, in the definition of which, Etica Sgr was involved.<\/p>\n

9.2 Appointment of the Board of Auditors: Appointment of standing and alternate Auditors – List voting<\/strong><\/h3>\n

Etica Sgr supported the list of candidates for the Board of Auditors presented by institutional investors and asset managers, for which it contributed to reaching the quorum.<\/p>\n

10.b Appointment of the Board of Auditors: Appointment of the Chairperson of the Board of Auditors – List voting<\/strong><\/h3>\n

Etica Sgr supported the Candidate Chairperson of the list presented by institutional investors and asset managers, for which it contributed to reaching the quorum.<\/p>\n

Other items on the Agenda<\/h3>\n

On the remaining items on the Agenda, Etica Sgr voted in favour, as they are consistent with Etica Sgr’s Engagement Policy<\/a>.<\/p>\n

Agenda<\/strong><\/h2>\n
    \n
  1. Financial statements as at 31 December 2020 \u2013 Approval of the documentation on the financial statements
    \nFOR<\/strong><\/u>     1.4<\/strong><\/a><\/li>\n
  2. Financial Statements as at 31 December 2020 \u2013 Allocation of profits and losses for the year
    \nFOR<\/strong><\/u>     1.4<\/strong><\/a><\/li>\n
  3. Report on the remuneration policy and compensation paid \u2013 Approval of the first section (remuneration policy)
    \nAGAINST<\/strong><\/u>\u00a0    1.3<\/strong><\/a><\/li>\n
  4. Report on the remuneration policy and compensation paid \u2013 Non-binding vote on the second section (2020 compensation)
    \nAGAINST<\/strong><\/u>\u00a0    1.3<\/strong><\/a><\/li>\n
  5. Appointment of the Board of Directors \u2013 Determination of number of members of the Board of Directors
    \nFOR<\/strong><\/u>     1.1<\/strong><\/a><\/li>\n
  6. Appointment of the Board of Directors \u2013 Determination of term of office of the Board of Directors
    \nFOR<\/strong><\/u>     1.1<\/strong><\/a><\/li>\n
  7. Election of Directors (10 Nominees)\n