SWIPRA Newsletter

SWIPRA Newsletter - Swiss AGM Season 2023/24

Observations from the Swiss AGM Season 2024 and 10 years of say on pay

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Zurich, 27th June 2024 – The 2024 Swiss AGM season marks the 10th anniversary of shareholders' “Say on Pay” in Switzerland (“Minder Initiative”). SWIPRA’s analysis reveals a record level of shareholder AGAINST votes on compensation items. Ever since, shareholders have been requesting more transparency on variable pay, recently especially ESG bonus incentives. Such elements are widely used by now, but rarely explained.

And with gender representation on the board increasingly on track, but global challenges growing, shareholders’ focus shifts to other diversity aspects. Boards must demonstrate command over business-relevant skills and experiences to meet strategic challenges and cope with ever more distinct stakeholder expectations. This transparency is often not provided yet.

While 2024 shareholder votes on non-financial reports were overwhelmingly in favor, such an outcome cannot be taken for granted for future AGMs. Companies are increasingly under observation by shareholders and other key stakeholders to act in line with their ambitious goals and have now become even more accountable in their sustainability efforts.

Previous years

SWIPRA AGM Analysis 2023: Newsletter

SWIPRA AGM Analysis 2022: Newsletter

SWIPRA AGM Analysis 2021: Newsletter

SWIPRA AGM Analysis 2020: Newsletter

SWIPRA AGM Analysis 2019: Newsletter

SWIPRA AGM Analysis 2018: Newsletter

SWIPRA AGM Analysis 2017: Newsletter

SWIPRA AGM Analysis 2016: Newsletter