The hits just keep on coming. Fu--ing mo--ns don’t even know their own governance rules:
Fund Companies Reject Ala-Pietilä as SAP Chief Supervisor (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=002-f92&t=c)
Reuters via onvista.de (Germany) on May 15, 2024
Two major shareholders have rejected Pekka Ala-Pietilä, the designated head of the board. Deka manager Ingo Speich said at the SAP Annual General meeting that his fund company would vote against the election of Pekka Ala-Pietilä. “We will not support this emergency solution.” Addressing Ala-Pietilä, Speich said: “Even if you are only supposed to ensure the transition, we do not consider your lack of independence to be productive.” Portfolio manager Markus Golinski from Union Investment also announced that he would reject the candidate because Ala-Pietilä holds many offices,”…but in particular the fact that he was already a member of the board from 2002 to 2021, while our voting guidelines stipulate a maximum term of membership of 15 years.”
Annual General Meeting coverage also seen at: Dow Jones Newswires Germany via FinanzNachrichten (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=003-7fa&t=c)
, dpa/Reuters via
CIO (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=004-9ce&t=c)
, dpa-AFX via
FinanzNachrichten (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=005-db1&t=c)
,
Handelsblatt (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=006-91e&t=c)
,
Börsen-Zeitung (https://mailview.bulletinintelligence.com/mailview.aspx?m=2024051501sap&r=email-b4b5&l=007-771&t=c)