LVMH Moet Hennessy Louis Vuitton SE
Ticker: MC
Meeting date: 20/04/2023
Meeting type: Annual/Special
| Proposal | Mgt rec | Vote | |
|---|---|---|---|
| Management proposals | |||
| 1 | Proposal Approve Financial Statements and Statutory Reports | Mgt rec For | Vote For |
| 2 | Proposal Approve Consolidated Financial Statements and Statutory Reports | Mgt rec For | Vote For |
| 3 | Proposal Approve Allocation of Income and Dividends of EUR 12.00 per Share | Mgt rec For | Vote For |
| 4 | Proposal 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 | Mgt rec For | Vote Against |
| 5 | Proposal Reelect Delphine Arnault as Director | Mgt rec For | Vote For |
| 6 | Proposal Reelect Antonio Belloni as Director | Mgt rec For | Vote For |
| 7 | Proposal Reelect Marie-Josee Kravis as Director | Mgt rec For | Vote For |
| 8 | Proposal Reelect Marie-Laure Sauty de Chalon as Director | Mgt rec For | Vote For |
| 9 | Proposal Reelect Natacha Valla as Director | Mgt rec For | Vote For |
| 10 | Proposal Elect Laurent Mignon as Director | Mgt rec For | Vote For |
| 11 | Proposal Renew Appointment of Lord Powell of Bayswater as Censor | Mgt rec For | Vote For |
| 12 | Proposal Appoint Diego Della Valle as Censor | Mgt rec For | Vote For |
| 13 | Proposal Approve Compensation Report of Corporate Officers | Mgt rec For | Vote For |
| 14 | Proposal Approve Compensation of Bernard Arnault, Chairman and CEO | Mgt rec For | Vote For |
| 15 | Proposal Approve Compensation of Antonio Belloni, Vice-CEO | Mgt rec For | Vote For |
| 16 | Proposal Approve Remuneration Policy of Directors | Mgt rec For | Vote For |
| 17 | Proposal 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 | Mgt rec For | Vote Against |
| 18 | Proposal 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 | Mgt rec For | Vote Against |
| 19 | Proposal Authorize Repurchase of Up to 10 Percent of Issued Share Capital | Mgt rec For | Vote For |
| 20 | Proposal Authorize Decrease in Share Capital via Cancellation of Repurchased Shares | Mgt rec For | Vote For |
| 21 | Proposal Authorize Capitalization of Reserves of Up to EUR 20 Million for Bonus Issue or Increase in Par Value | Mgt rec For | Vote For |
| 22 | Proposal Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 20 Million | Mgt rec For | Vote For |
| 23 | Proposal Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights With Binding Priority Right up to Aggregate Nominal Amount of EUR 20 Million | Mgt rec For | Vote For |
| 24 | Proposal Approve Issuance of Equity or Equity-Linked Securities for Qualified Investors, up to Aggregate Nominal Amount of EUR 20 Million | Mgt rec For | Vote For |
| 25 | Proposal Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above | Mgt rec For | Vote For |
| 26 | Proposal Authorize Capital Increase of Up to EUR 20 Million for Future Exchange Offers | Mgt rec For | Vote For |
| 27 | Proposal Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind | Mgt rec For | Vote For |
| 28 | Proposal Authorize up to 1 Percent of Issued Capital for Use in Stock Option Plans Reserved for Employees and Corporate Officers | Mgt rec For | Vote For |
| 29 | Proposal Authorize Capital Issuances for Use in Employee Stock Purchase Plans | Mgt rec For | Vote For |
| 30 | Proposal Set Total Limit for Capital Increase to Result from All Issuance Requests at EUR 20 Million | Mgt rec For | Vote 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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