Meyer Burger: Ethos recommends not to approve the election of the representative of Sentis Capital at the extraordinary general meeting to be held on 30 October 2019
Ethos Foundation recommends to support the board of directors and not to approve the election of Mark Kerekes at the extraordinary general meeting to be held on 30 October. This meeting was convened by the group of shareholders led by Sentis Capital (owned by the Russian investor Petr Kondrashev) and other shareholders (together holding 11% of the company's capital) to elect their representative to the board of directors. Meyer Burger's board unanimously recommends that this election be rejected.
The general meetings of Ethos Services SA and Ethos Foundation were held on 13 June 2019 in Bern. All the proposals were unanimously accepted respectively by the shareholders of Ethos Services and members of Ethos Foundation. The general meetings were concluded with a public event and a panel discussion on the Responsible Business initiative. This event brought together nearly 120 people.
At the annual general meeting of UBS to be held on 2 May 2019, Ethos recommends to oppose all proposals related to the remuneration of the board of directors and the executive management. Ethos considers that the CHF 73.3 million requested for the 2018 bonus of the 13 members of the executive management is excessive in light of the bad performance of the bank’s share price in 2018.
At the Annual General Meeting to be held on 26 April 2019, Ethos recommends to oppose all proposals related to the remuneration of the board of directors and the executive management of Credit Suisse. The proposed increase in the executive management’s variable remuneration is excessive in light of the bank’s financial results.
Since the entry into force of the Ordinance against excessive remuneration (the Minder initiative), the different votes on board and executive remuneration are the proposals most contested by the shareholders, which is reflected in a stabilisation of overall remuneration in SPI companies and a slight decrease in the largest listed companies.
The annual general meetings of Ethos Foundation and the company Ethos Services took place today in Fribourg. All the agenda items were approved. Rudolf Rechsteiner was elected unanimously to the chairmanship of Ethos Foundation and Beth Krasna unanimously to the chairmanship of Ethos Services. They succeed Dominique Biedermann who did not stand for re-election after 21 years of uninterrupted commitment to the development of Ethos.