The vote not to ratify the actions of the management board does not have any (!) legal consequence. However, the refusal of a formal approval of the actions of the management board is quite unusual in Germany. Criticism: yes, but refusal: no; the latter is quite unknown in the chemicals and pharmaceutical industries. Even so, the former Deutsche Bank co-CEOs received just 61% votes in favour in 2015 and they resigned some weeks later.
27 Apr 2019
44.5% - the writing on the wall?
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44.5% - the writing on the wall?
Bayer AG (BAYN:WBO) | 0 0 0.5% | Mkt Cap: 80,975m
- Published:
27 Apr 2019 -
Author:
Martin Schnee -
Pages:
2
The vote not to ratify the actions of the management board does not have any (!) legal consequence. However, the refusal of a formal approval of the actions of the management board is quite unusual in Germany. Criticism: yes, but refusal: no; the latter is quite unknown in the chemicals and pharmaceutical industries. Even so, the former Deutsche Bank co-CEOs received just 61% votes in favour in 2015 and they resigned some weeks later.