Newsletter #27 – Shareholders Meeting 2017

On Thursday 15th June, the annual general assembly of Amadeus shareholders took place in Madrid. We seized this opportunity to inform and question the Board and Top Management. We delivered a paper copy of our speech to the chairman J.A. Tazon, L. Maroto and S. Hansen-Peck and draw their attention to the most important topics. The chairman thanked us for our speech which “leaves room for improvement”. There was no other question from the Amadeus shareholders.

For further reading, download our Newsletter 27.

References:

  • “The net profit has increased by 34% to 701 M€. This profit will be divided into two parts: 412 M€ of dividends and 288 M€ of reserves, expanding even more an already large amount of available cash.”: Resolution 2 of 2017 General Assembly of Amadeus Shareholders.
  • “The remuneration of the ten members of the Executive Committee, including salary, bonus and share-based payments, has been multiplied by 2.4 from 10.6 M€ to 25.4 M€.”: Consolidated Annual Accounts 2016, page 47: “During the year ended December 31, 2016, the amounts accrued to the Chief Executive Officer (Consejero Delegado) for his executive functions in respect of compensation in cash (base salary and bonus accrued), compensation in kind, contributions to pension plan and collective life insurance policies amounted to €2,033 thousand, €109 thousand and €173 thousand (€2,121 thousand, €117 thousand and €170 thousand respectively, for the year ended December 31, 2015). Additionally, during the year ended December 31, 2016, the Chief Executive Officer received 74,865 shares, at a share price of €38.10 (no shares were delivered to him during the year ended December 31, 2015). During the year ended December 31, 2016, the amounts accrued to the Key Management in respect of compensation in cash (base salary and bonus accrued), compensation in kind, contributions to pension plan and collective life insurance policies and share based payments amounted to €8,442 thousand, €356 thousand, €848 thousand and €12,098 thousand (€6,746 thousand, €352 thousand, €780 thousand and €nil respectively, for the year ended December 31, 2015). Key management personnel include 10 members for the years ended December 31, 2016 and 2015”.
  • “400 Associate Directors and above Top Management members have received 33 M€ of free shares, which is ten times more than the total amount of the free shares offered to the 4,000 employees who subscribed to the Share Match Plan worldwide.”: Amadeus Global Report 2016, page 92 and Consolidated Annual Accounts 2016, page 49: “During the year 2016, the PSP 2013 was settled after the vesting date, implying that the Group transferred to the eligible employees 881,049 shares, due to the achievement of the performance objectives (200%), at a weighted average price of €38.10 per share”, and page 50: “During the year 2016, the Share Match Plan 2014 was settled according to the terms of the plan, implying that the Group transferred to the participants 91,721 shares, at a weighted average price of €39.07 per share”.
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