Remuneration policies under scrutiny by the shareholders at the Brazilian AGMs
11 April 2024 Articles
During the 2023 AGM season, shareholders of B3 listed companies increased their requirements regarding executive compensation and board composition proposals.
According to the latest Morrow Sodali’s survey, which features a comprehensive review of the 2023 Proxy Season in Brazil, the average approval rate of remuneration proposals fell 4.2 percentage points from the previous year, i.e. from 95.3% to 91.1%.
In this article published by Veja, Agnes Blanco Querido, Managing Director of Morrow Sodali in Brazil, shares her views on the 2023 AGM season, which witnessed some stability in the business world compared to the period between 2020 and 2022, but directed the attention of shareholders to topics such as executive compensation and boards.
"Investors are unwilling to tolerate remuneration policies with little information or transparency. If companies want support from their investors, they must be prepared well ahead of the new 2024 proxy season in order to review their best practices, and anticipate the upcoming trends”, comments Blanco.
Read the full article here (in Portuguese).
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