eIt was an uprising of the shareholders, a victory that has not yet occurred in the stock market in Germany. The Board of Directors and the Board of Directors voted for discharge, Leverkus-based pharmaceutical and chemical group Bayer managed.
45% of shareholders almost voted for the executive director of Werner Baumann's CEO. Shareholders therefore did not express a clear vote of confidence in one of the most important votes in a shareholder meeting.
The discharge of a corporate entity is not considered to be less than half of the votes cast. He also shot in front of the arcade table. Only 66 percent agreed to discharge. When the long and controversial General Assembly of the Year was over, at noon it was not a devastating decision, marking the beginning of a new era of German economic history.
"However, the discharge vote is not legally binding. It is a kind of opinion statement, says Ingo Speich, head of the Deka Sustainable Business Strategy." However, if over-supervision votes cast against shareholder power, they are already overseeing The Supervisory Board. "After the historic, the Bayer Board of Directors organized a conference call for the afternoon, but expressed confidence.
Shareholders say more
According to experts, there is still a close relationship with Bayer. The Annual General Assembly of Bayer could be a serious case of stockholder revolt, which was much wrong with the acquisition of Monsanto. A capital investment of around 32,000 million euros has been destroyed following the latest controversial purchase last year. Beyond Bayer, he is also suggesting a new shareholder culture.
The day-to-day committees and oversight boards continued to relocate nearly 95 percent and more in days. The management floor managers need to be prepared to make the shareholders more likely to be in strategic payment or in a personal table.
Those who were discussed at the rear of the Republic's room suddenly take place in the annual general meeting. The General Meeting of Shareholders, which is boring for the public, is turning into a forum for shareholder democracy, which is a great improvement.
When shareholders have to approve the approval fees annually by the Board of Directors and the Board of Directors, they become a seismograph for corporate group sentiment. The reason is, above all, a new investment culture. Previously, shareholders voted for their feet and sold shares in case of accidents.
In the index fund that covers a specific market barometer, the investment companies are linked to those listed companies, whether they like it or not. Bayer, for example, weighs 5.7% in the Dax market barometer. Anyone who represents Dax, 5.7% of the fund's capital is Leverkus's paper.
SAP 2017 is only lightened up
The shareholder voted for the weak reputation. "This oversees the discharge of the Control Committee". Speich mentions, as an example, SAP software company. Two years ago, the supervisory board only opened with more than 50%. The cause of the incident was then the lack of transparency of the payment system for manager bonuses. "However, this has caused a positive change process".
Currently, a 70 percent admission, 80% is not considered disrevious. Due to the progress of the progressive advances of the wealth of funds and the wealth of the wealth of the indices, the shareholder structure is now very heterogeneous, that is to say, contradictions and admission rates are also reflected. "It's an evaluation last year and then all shareholders must have an opinion," says Speich, who voted against the Board of Directors and Board of Directors of Bayer.
For a long time, there is a need to find high levels of repudiation between Dax companies. Deutsche Bank had a big joke in May 2015. At the Annual General Assembly, 39% of voters voted against Anshu Jain and Jürgen Fitschen with the discharge of the Executive Committee. On June 8, they announced retirement.
In the VW group of Vitoria-Gasteiz, the next year after the petrol affections were not less confident. At the Annual General Assembly in 2016, President Matthias Müller, 97.71% and today's chairman of the Dieter Pötsch Supervisory Board reached 97.65%.
The opinions on scandals should be past. The only question is what its effect is. "Europe wants to strengthen the rights of shareholders and perhaps we must weigh much more in the future," says Deka.