Annual general meetings (AGM) 2017 were characterized by an increasing opposition to compensation-related agenda items. The high level of criticism regarding compensation is to some extent a Swiss phenomenon as compensation reports were seen much more critical in Switzerland than in comparable foreign markets. This is due to the still widely spread standardized view of corporate governance, predominantly affecting smaller companies. They faced significantly higher against votes than larger companies. Proxy advisors also became increasingly critical, and a growing number of prominent, publicly discussed cases were sometimes difficult to objectively reconcile. The actual voting outcomes at the AGMs 2017 were ultimately much less critical than one could have initially expected. Shareholders still seem to have a generally high level of trust in their boards.
The press release of the SWIPRA AGM Analysis 2017 can be found here.
A presentation with graphs and further results can be found here.