LVMH Moet Hennessy Louis Vuitton SE

Ticker: MC
Meeting date: 15/04/2021
Meeting type: Annual/Special
Proposal Mgt rec Vote
Management proposals
1 Approve Financial Statements and Statutory Reports For For
2 Approve Consolidated Financial Statements and Statutory Reports For For
3 Approve Allocation of Income and Dividends of EUR 6.00 per Share For For
4 Approve Auditors' Special Report on Related-Party Transactions Vote rationale: Transactions between related parties should be avoided unless they are demonstrably beneficial to all shareholders. The board should disclose the name and affiliation of each party involved, value and cost of the transaction, and business rationale. Global Voting Guidelines Related-party transactions For Against
5 Reelect Antoine Arnault as Director For For
6 Reelect Nicolas Bazire as Director Vote rationale: Shareholders should have the right to seek changes to the board when it does not act in their best interest. We will consider whether the board has failed to act on material requests from shareholders, sought to circumvent shareholder proposals or implemented governance changes limiting shareholders’ rights without their approval. When voting on a proposal to discharge the board of responsibilities, we will consider whether any information raises reasonable doubt about the board’s actions. We will also take into considerations unsatisfactory financial and strategic performance, mismanaged risk-taking, unacceptable treatment of stakeholders or undesired environmental or social outcomes from company operations. Global Voting Guidelines For Against
7 Reelect Charles de Croisset as Director For For
8 Reelect Yves-Thibault de Silguy as Director For For
9 Appoint Olivier Lenel as Alternate Auditor For For
10 Approve Amendment of Remuneration Policy of Directors Re: FY 2020 For For
11 Approve Amendment of Remuneration Policy of Executive Corporate Officers Re: FY 2020 For For
12 Approve Compensation of Corporate Officers For For
13 Approve Compensation of Bernard Arnault, Chairman and CEO For For
14 Approve Compensation of Antonio Belloni, Vice-CEO For For
15 Approve Remuneration Policy of Directors For For
16 Approve Remuneration Policy of Chairman and CEO Vote rationale: The board is responsible for attracting the right CEO and setting appropriate remuneration. A substantial proportion of annual remuneration should be provided as shares that are locked in for five to ten years, regardless of resignation or retirement. The board should provide transparency on total remuneration to avoid unacceptable outcomes. The board should ensure that all benefits have a clear business rationale. Pensionable income should constitute a minor part of total remuneration. Global Voting Guidelines CEO remuneration For Against
17 Approve Remuneration Policy of Vice-CEO Vote rationale: The board is responsible for attracting the right CEO and setting appropriate remuneration. A substantial proportion of annual remuneration should be provided as shares that are locked in for five to ten years, regardless of resignation or retirement. The board should provide transparency on total remuneration to avoid unacceptable outcomes. The board should ensure that all benefits have a clear business rationale. Pensionable income should constitute a minor part of total remuneration. Global Voting Guidelines CEO remuneration For Against
18 Authorize Repurchase of Up to 10 Percent of Issued Share Capital For For
19 Authorize Decrease in Share Capital via Cancellation of Repurchased Shares For For
20 Authorize Capitalization of Reserves of Up to EUR 20 Million for Bonus Issue or Increase in Par Value For For
21 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 20 Million For For
22 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 20 Million For For
23 Approve Issuance of Equity or Equity-Linked Securities for Qualified Investors, up to Aggregate Nominal Amount of EUR 20 Million For For
24 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above For For
25 Authorize Capital Increase of Up to EUR 20 Million for Future Exchange Offers For For
26 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind For For
27 Authorize up to 1 Percent of Issued Capital for Use in Stock Option Plans For For
28 Authorize Capital Issuances for Use in Employee Stock Purchase Plans For For
29 Set Total Limit for Capital Increase to Result from Issuance Requests Under Items 21-26 at EUR 20 Million For For
30 Amend Article 22 of Bylaws Re: Auditors For For

Disclaimer

This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:

  • This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
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