The Directive amends the so-called Shareholders’ Rights Directive (EU Directive 2007/36 as regards the encouragement of long-term shareholder engagement). The stated objective is to overcome certain corporate governance shortcomings in European listed companies and to promote the long-term engagement of shareholders.
The Directive deals with a wide range of corporate law and governance issues, such as identifying shareholders, providing information about shareholders, facilitating voting, making institutional investors, asset managers and proxy advisors more transparent, and regulating related party transactions. HR practitioners will, however, be primarily interested in the provisions that deal with pay policy and the remuneration report - and it is these that we focus on in this newsletter.
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