Proxy advisor ISS: EssilorLuxottica CEO/Chairman remuneration should be rejected [Reuters]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
NASDAQ:AMEX Investor Relations:
essilor.com/en/investors
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Source: Reuters
PARIS, April 4 (Reuters) - Leading shareholder advisory group ISS said shareholders of spectacles company EssilorLuxottica (ESLX.PA) , opens new tab , whose brands include Ray-Ban, should vote against the proposed remuneration package for its CEO and chairman Francesco Milleri. "For the second year in a row, the CEO's remuneration is substantially augmented without any further significant rationale compared with last year," wrote ISS in a report. ISS, which makes recommendations to investors on how to vote at annual shareholder meetings and on how to improve corporate governance, added it had concerns over the fact that Milleri was both Chairman and CEO of the company. "According to ISS policy, combining the roles of chair and CEO may result in concentration of power and blurs the lines between the duties of the CEO versus the duties of the chair, thus posing a potential risk to shareholders," it wrote. In February, EssilorLuxottica posted higher Q4 revenues . The company's s
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