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ISS fails: Nikolaus von Bomhard in office with 72 percent approval
ISS's voting rights advisors were unsuccessful at Munich Re's general meeting. Nikolaus von Bomhard received 72 percent approval despite objections. Cooling off period for former CEOs as heads of the supervisory board discussed.
ISS fails: Nikolaus von Bomhard in office with 72 percent approval
The voting rights advisors from Institutional Shareholder Services (ISS) expressed concerns about the re-election of Supervisory Board Chairman Nikolaus von Bomhard at the Munich Re Annual General Meeting. Despite the letter of recommendation from ISS arguing against his reappointment, von Bomhard received an approval rating of 72 percent. ISS had indicated that they did not support former CEOs as supervisory board chairmen, but this was qualified by an exception regarding a five-year cooling-off period. Munich Re shareholders appear to have confidence in von Bomhard and voted for him to continue in office.