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08 August 2023 • Articles


Supervisors should simplify the IPO process

“The biggest disagreements between companies and investors center around board remuneration, incentive plans, and the board appointment process,” asserts Borja Miranda Johansson, Managing Director at Morrow Sodali, during his interview with Activos, a supplement of Prensa Iberica, a specialized economic media.

“Spanish investors are also increasingly attentive to the international practices and criteria related to the composition of boards, as it happens in the Anglo-Saxon countries,” comments Borja Miranda Johansson.

“These criteria include the ESG targets. The market requires greater commitment from companies in terms of adopting policies and strategies aligned with the EU Directive on Corporate Sustainability Due Diligence (CSDDD). This may entail greater engagement from companies in the fight against climate change, and require them to carry out climate transition studies. I am confident that the transposition of the directive will take place soon, and will have an impact on shareholders' meetings," adds Borja.

“It is crucial both listed and unlisted companies are prepared well ahead of the proxy season, in order to review their best practices, and anticipate the upcoming trends,” concludes the Managing Director.

Read the full article here (in Spanish).

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