For the thirst time, on May 8th, 2014, Etica Sgr voted at the shareholder annual general meeting of Red Electrica, the operator of the Spanish electricity system. The meeting was held in Madrid and Etica Sgr voted for all the items in agenda
Etica Sgr voted for the allocation of income and dividends because it considers the proposed dividend per share in line with the financial results of Red Eléctrica.
Regarding the item to approve the remuneration policy report, Etica Sgr voted for because it has considered the report clear and well detailed, in terms of definitions of President and CEO variable parts as well. Nevertheless, Etica Sgr pointed up the importance to consider also environmental, social and governance (ESG) targets in the determination of the performance-based pay elements and asked for the data of the difference between CEO’s remuneration and the average salary of the Company’s employees.
