Activities of Miguel VIEGAS related to 2014/0121(COD)
Plenary speeches (3)
Long-term shareholder engagement and corporate governance statement (debate) PT
Long-term shareholder engagement and corporate governance statement (A8-0158/2015 - Sergio Gaetano Cofferati) PT
Long-term shareholder engagement and corporate governance statement (debate) PT
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement and Directive 2013/34/EU as regards certain elements of the corporate governance statement
Amendments (7)
Amendment 65 #
Proposal for a directive
Recital 2
Recital 2
(2) The financial crisis has revealed that shareholders in many cases supported managers' excessive short-term risk taking. Moreover, there is clear evidence that the current level of “monitoring” of investee companies and engagement by institutional investors and asset managers is inadequate, which may lead to suboptimal corporate governance and performance of listed companies. A further important aspect concerns the lack of engagement by workers and the local community in companies’ major strategic choices.
Amendment 70 #
Proposal for a directive
Recital 8
Recital 8
(8) Effective and sustainable shareholder engagement is one of the cornerstones of listed companies’ corporate governance model, which depends on checks and balances between the different organs and different stakeholders, alongside engagement by the various stakeholders: clients, suppliers, workers and the local community.
Amendment 106 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2007/36/EC
Article 2 – point j a (new)
Article 2 – point j a (new)
(ja) ‘stakeholder’ means any agent, person or group whose fate is strongly influenced by the company’s decisions, notably clients, suppliers, workers and the local community.
Amendment 121 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2007/36/EC
Chapter IB – article 3f – paragraph 1 – point f a (new)
Chapter IB – article 3f – paragraph 1 – point f a (new)
(fa) to take account of the opinions and views of stakeholders in the company and where possible to include them in the discussion and decision-making process itself.
Amendment 152 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 1 – subparagraph 1
Article 9a – paragraph 1 – subparagraph 1
1. Member States shall ensure that shareholders have the right to vote on the remuneration policy as regards directors. Companies shall only pay remuneration to their directors in accordance with a remuneration policy that has been approved by shareholders. The policy shall be submitted for approval by the shareholders at least every three years. Member States shall ensure that the ratio between the remuneration of employees and the remuneration of directors (fixed and variable) shall on no account exceed 1 to 30.
Amendment 163 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 3 – subparagraph 2
Article 9a – paragraph 3 – subparagraph 2
The policy shall indicate the maximum amounts of total remuneration that can be awarded, and the corresponding relative proportion of the different components of fixed and variable remuneration. It shall explain how the pay and employment conditions of employees of the company were taken into account when setting the policy or directors' remuneration by explaining the ratio between the average remuneration of directors and the average remuneration of full time employees of the company other than directors and why this ratio is considered appropriate. The remuneration of directors may on no account be more than 30 times higher than the average remuneration of full- time employees. The policy may exceptionally be without a ratio in case of exceptional circumstances. In that case, it shall explain why there is no ratio and which measures with the same effect have been taken.
Amendment 175 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2007/36/EC
Article 9b – paragraph 1 – point f a (new)
Article 9b – paragraph 1 – point f a (new)
(fa) descriptive elements concerning the distribution of total remuneration among all employees and directors so as to provide proof of compliance with the maximum ratio referred to in Article 9.