ECGS welcomes the 15th report on French executive compensation

Shareholders of the largest French listed companies will now vote in 2014 on executive compensation following the amendment to the AFEP-MEDEF corporate governance code. Proxinvest the French proxy advisor just published its fifteenth consecutive report on executive compensation.

ECGS and Proxinvest welcome the public consultation on the Best Practice Principles for Governance Research

ECGS and Proxinvest welcome the public consultation on the Best Practice Principles for Governance Research, a consultation which will remain open until December 20th 2013. 

The final version should be released by February 2014 and be then left for adoption by the providers on a "comply or explain" basis.

When French Investment funds leave CAC 40 Index..

When French funds leave CAC 40 stocks…

Since 2012, the total investment of French Funds in CAC 40 companies’ shares decreased by 23.5% from 34 % to 26 % of the total stock held by Investment funds. In this context, we can legitimately ask why French funds are no longer attracted by the biggest French capitalizations while their foreign counterparts are increasing their holdings.

Banks are not so fine after all

Halloween is almost upon us and banks do not fail to provide their share scary news. Last Thursday investors were scared by reports that HSBC faced a $2.46 billion fine as a result of a Judgment in Securities Fraud Case1. The bad news was quickly followed by US media reporting that JP Morgan was set for a record $13bn (£8bn) fine to settle investigations into its mortgage-backed securities2.

Christian Dior: a reference in French code compliance!

Christian Dior, the luxury company which gathers each fall as shareholders at the prestigious Carousel of le Louvre, tends to take it easy with its compliance to the French reference code.

Alitalia: Another financial disaster caused by Italian politics and management by the ?State??

In 2008 the Alitalia airline was close to be fully bought by Air France, but the deal was stopped by the strong opposition of Berlusconi in the name of the “italianity” of Alitalia. The company was delisted in 2009 and acquired by a group of Italian “entrepreneurs”, mostly linked with political parties including Roberto Colaninno (associated a few years ago with a Telecom Italia mess) and the Riva Group (the owner of Ilva, a company that poisoned the city of Taranto and is under legal investigation for environmental disaster).

Proxinvest and Ethos held their 9th Annual Seminar in Avignon !

Proxinvest and Ethos, the French and Swiss partners of ECGS, held their 9th annual investors working seminar on voting policies in Avignon on October 3rd and 4th, 2013. This special event gathered more than fifty equity investment decision makers in France, to discuss topics related to Corporate Governance and General Meetings.

Frontis Governance, the Italian Partner of the ECGS network published its 2013 Remuneration and Performance Survey

We welcome the publication of the 2013 Remuneration and Performance Survey released by our Italian focused on the 98 largest Italian listed companies, Pay on Performance, Analysis of 2012 remuneration in Italian listed companies.

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