In Spain general shareholder meetings have evolved significantly, with increased shareholder involvement and scrutiny of corporate governance. Issues like remuneration, board elections, and capital authorizations have become crucial for company valuation.
Eduardo Sancho Garcia, Manager at Sodali & Co, shares his views with Spanish magazine Haz, on the last proxy season in Spain: “In 2024, the average quorum for IBEX 35 meetings was 73.3%, slightly down from 2023, with floating capital participation remaining vital, as illustrated in Sodali & Co Annual Proxy Season Review.”
Important issues for 2025 include meeting mandatory gender diversity quotas. Only 24% of IBEX 35 boards have reached the 40% threshold for the less represented gender. Women mainly hold independent external director roles.
“Additionally, the integration of the new CSRD standard for sustainability reporting will be a major challenge, requiring rigorous reporting and external verification, impacting sustainability profiles and asset valuations”, concludes Eduardo.
Read full article here (in Spanish).
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