Annual General Meeting of Comet Holding AG – Proxy advisors GLASS LEWIS, ETHOS and ACTARES support election proposals of the Board of Directors Freitag, 12. April 2019 - 14:42
The Swiss proxy advisors ETHOS and ACTARES as well as the Anglo-Saxon proxy advisor GLASS LEWIS support all election proposals of the Board of Directors for the Annual General Meeting 2019 and are against the candidates of the activist Veraison.
In particular, all three proxy advisors recommend that shareholders elect Christoph Kutter to both the Board of Directors and as Chairman of the Board of Directors. Both, Glass Lewis and Ethos also underline the Board's thorough and professional selection process to nominate a successor for Hans Hess as Chairman of the Board. All three proxy advisors recommend to the shareholders not to elect the candidate of the activist shareholder Veraison (Heinz Kundert) as a member or Chairman of the Board of Directors. Additionally, they argue that the term limit of three years due to the age of 67 of the candidate of Veraison SICAV based on the articles of association would be very short. ISS supports all candidates of the Board of Directors, including Christoph Kutter, but proposes Heinz Kundert for the Chair.
Glass Lewis and Ethos also emphasise the importance of a well-functioning Board of Directors with competent and independent personalities for the promising strategic development of the company. They attest the company to having generated an impressive increase in value for its shareholders over a long period of time and to having quickly implemented appropriate measures on the issues in 2018 - even before Veraison became a shareholder of the company.
The Board of Directors is pleased to propose to the Annual General Meeting on April 25, 2019 four existing and two new proven experts and personalities with the necessary experience and skills to be elected to the Board of Directors, who will implement a promising strategy for the Swiss technology leader Comet Group.