Live event
Conference
APAC

29 May 2024 to 30 May 2024

Hilton Hotel, Sydney

2024 AIRA Annual Conference
View all services
2023 European Proxy Season Review (Greece edition)

22 September 2023

2023 European Proxy Season Review (Greece edition)

Morrow Sodali 2023 European Proxy Season Review
France | Germany | Greece | Ireland | Italy | PortugalSpainSwitzerland | United Kingdom

Morrow Sodali is pleased to share its review of the 2023 Proxy Season in Greece. This comprehensive review highlights several key trends in corporate governance and shareholder engagement.

The season marked a dynamic shift in shareholder meeting formats and participation. Greek issuers have transitioned from virtual-only annual general meetings (AGMs) to a mix of physical and hybrid formats, with a notable decrease in virtual meetings. Moreover, strategic shareholders have seen their positions strengthen in the last three years, driving higher overall participation rates at AGMs, reaching 76.5% of share capital in 2023. Despite these changes, free float participation remains steady at around 50%. Board elections have witnessed increased support, although concerns persist regarding board independence and gender balance.

The review also delves into board composition, revealing a decline in board independence and a majority of board chairs with executive roles. Gender diversity on Greek boards is improving but still lags behind European standards. Remuneration issues remain a focal point, with a majority of remuneration policies and reports facing negative recommendations. Additionally, other remuneration items, such as fees for board members and incentive plans, are receiving lower approval rates. The insights highlight the evolving governance landscape in Greece, including the growing importance of sustainability skills, international expertise, and the impact of recent regulatory changes in the banking sector, adding complexity to remuneration structures.

To receive an electronic version of the publication, please fill out the form below.

Can't see the form? The form will only be visible when all cookies are enabled. If you wish to adjust your cookie preferences, click the icon located at the bottom left corner of the screen.

Download the full report

Download now Print
Download now

Download the full report

For further inquiries
Contact us
Contact us

Please complete this form to be contacted by a Morrow Sodali representative.