Election of the Board: is the Italian “voto di lista”, as defined by the By-laws, still valid? The cases of Fiat, UniCredit and Prysmian

The “voto di lista” mechanism is compulsory for Italian listed companies since 2007 and calls for shareholders to vote on slates of nominees, submitted by both controlling shareholders and minorities. Through such mechanism, the worthy goal is to ensure a minority representation on corporate boards, providing that at least one director has to be elected from the slate submitted by minority shareholders.
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French Pension funds caps CEO pay to € 1.7 million

The ERAFP, the French civil servants pension fund has taken the initiative of capping  CEOs compensation to the equivalent of 100 times the French minimum wage (SMIC).
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ECGS ENGAGES WITH THE BOD OF UNICREDIT TO RECLAIM THE EXTRA-SEVERANCE PAYMENT PAID TO THE FORMER CEO ALESSANDRO PROFUMO

On January 27th, ECGS (Expert Corporate Governance Service) sent a letter to the Chairman and the CEO of UniCredit asking them to undertake a strong action aimed at regaining their shareholders’ trust by making every effort to recall the excess money paid to Mr Alessandro Profumo at the time of its departure.
 
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CEO remuneration in Europe

After three years of decline, Proxinvest observed on the figures related to FY2010 published in 2011 a huge increase in the total CEOs (including stock options and shares valued at date of grant). The average total remuneration of the forty top French CAC 40 CEOs increased by 34% in 2010 to 4.11 million euros.
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Fighting Corruption in Switzerland: Companies Need Strict Rules

The largest listed companies in Switzerland are committed to fighting corruption. However, major differences are observed in the implementation of anti-corruption policies. This particularly relates to issues not sufficiently regulated under Swiss law. In order to enable companies to strengthen their anti-corruption systems, this legal uncertainty should be lifted.

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