FAZ May 18, 2019: “Shareholders in power”
Under the heading “Shareholders to Power”, Christian Schubert (editor, FAZ) comments on the role of the Supervisory Board in compensation excesses. Schubert writes: “Unlike in Germany, for example, votes at French AGMs are binding on remuneration issues. That’s good! It is not enough that the shareholders’ votes only have an alleged signal effect. The signals are too weak.” And Schubert continues: “The complexity of today’s remuneration packages overtaxes the understanding of the ordinary shareholder, they say. But if the basic principles can no longer be understood, they may not be acceptable.” To this can only be added: Germany must tighten up the draft law on the Shareholders’ Rights Directive (ARR).