The 2020 AGM Season in Portugal - Taking Stock of The Shareholder Sentiment and Looking Forward to 2021

Taking Stock of The Shareholder Sentiment and Looking Forward to 2021

Morrow Sodali is pleased to release our insight on the AGM Season in Portugal, as part of our latest edition of Lighthouse EMEA, complementing other publications from the US and Australia, where we take a closer look at the 2020 proxy season and what to expect in 2021. 

The review highlights common themes on corporate governance (Quorum, Remuneration and Board matters) emerging from shareholder meetings across the many markets in Europe, focusing on those issues likely to have an impact on companies in the year ahead. 

In this portuguese analysis, PSI-20 issuers concentrated the highest shareholder opposition levels and numbers of negative voting recommendations on remuneration-related items, following the transposition of SRD II.

In 2021, Portuguese investors expect issuers to find more means to participate online and live at meetings (both hybrid and remote-only AGMs). Board diversity, especially gender diversity, remains hot topic concerning board-related matters, likewise remuneration-related items will be even more important this year in shareholders’ meetings.

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