Sounded, Didier Truchot, the president of Ipsos, did not hide his bitterness, at the end of the general meeting of his group, on May 17: 58% of its shareholders opposed the remuneration provided for under of 2021 for the founder of the market research specialist. This score in the form of a slap blocks the payment of any variable in cash for Mr. Truchot. “I will be the only one at Ipsos not to receive a bonus linked to good performance” of 2021, he let go, annoyed. Investors wanted to deprive him of a true-false start bonus. Compensation of 1.1 million euros that the board of directors had awarded to him for having abandoned his functions as general manager in 2021.
These exceptional bonuses are little appreciated by the shareholders, who consider the managers sufficiently well remunerated not to have to add more. Antoine Frérot is warned. Veolia shareholders will have to vote on June 15 on the payment to the CEO of thirty thousand free shares (i.e. approximately 780,000 euros at the price of Wednesday 1er June), supposed to reward “the success linked to the acquisition of the Suez group”. Even if the board of directors of the environmental giant does not fail to recall that Mr. Frérot has never benefited from an exceptional bonus in thirteen years in office, the voting agencies ISS and Proxinvest have called for opposition to this resolution.
To avoid the disavowal of its shareholders, Stéphane Richard, the president of Orange, recently waived in extremis a severance payment of 500,000 euros, a few days before a delicate general meeting. Thanks to the votes received before this high mass, the telecom group was able to measure the extent of the outcry aroused by this gratuity. In disaster, the company made the rounds of management companies to reverse the trend. These efforts have paid off: Orange executive compensation for 2022 was approved at 50.55%. Seeing itself also badly embarked, Publicis decided to “stay”three weeks before the general meeting on May 25, to the establishment of a supplementary retirement mechanism for the benefit of Arthur Sadoun, the chairman of the management board.
Sharp increase in profits in 2021
It must be said that, after having tightened their belts somewhat in 2020, the leaders of large companies saw their remuneration soar in 2021, a year marked by a sharp increase in profits. According to calculations by the fintech dedicated to listed companies Scalens, the average compensation allocated to CAC 40 bosses jumped to 8.7 million euros, almost double the 4.5 million in 2020. Public opinion is moved by it; investors are more divided. A sovereign wealth fund from the Middle East, an American manager or a mutual insurance company from Niort will not have the same sensitivity. “From the point of view of capital providers, there is no magic number, no socially acceptable amount for the boss’s salary”underlines an expert in governance.
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