For the second year, on April 11th, 2014, Etica Sgr voted, through web platform, at the shareholder general meeting of Straumann Holding, a Swiss Company operating in implant and restorative dentistry and oral tissue regeneration.
Etica Sgr stressed the management on some ESG (environmental, social and governance) issues.
Regarding Directors’ remuneration, Etica Sgr highlighted some weaknesses in the compensation policy. The report published by the Company is transparent and precise, but the ratio between the fixed and the variable remuneration of the CEO doesn’t comply to Etica’s parameters. Furthermore the growth of the total compensation of the CEO may be considered excessive, even if in line with the results registered by Straumann in 2013. Moreover we suggested that the Company could link part of the variable remuneration to its social and environmental performance. Etica Sgr voted for the allocation of available earnings, evaluating the payout ratio acceptable, especially considering its decrease from the past year. Etica Sgr voted for the amend of the Article of Association because these are requested by the new Swiss legislation regarding remuneration (implemented after the referendum of March, 2013, known as “Minder Initiative”). Etica Sgr voted for the reelection of all the Directors. Nevertheless we noted that there is a lack of gender diversity in the Board of Directors were, currently, there are no women.
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