2023 European Proxy Season Review (Portugal edition)

Morrow Sodali 2023 European Proxy Season Review
France | Germany | Greece | Ireland | Italy | Portugal | Spain | Switzerland | United Kingdom

Morrow Sodali is pleased to share its review of the 2023 Proxy Season in Portugal. This comprehensive review highlights several key trends in corporate governance and shareholder engagement.

In 2023, hybrid meetings emerged as the preferred format, providing opportunities for both physical and virtual participation, while quorum levels remained steady at approximately 77%. The review also delves into various approaches to board elections and scrutinizes post-AGM boards for their composition and gender diversity. Additionally, it explores the integration of ESG metrics in executive compensation, the introduction of climate-related resolutions, and the significant influence of global proxy advisors on voting outcomes. Notably, strategic shareholders had substantial influence in shaping AGM dynamics and quorum levels, playing pivotal roles in board decisions and the evolution of governance matters.

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