Investing.com -- Shareholder advisory firm Institutional Shareholder Services (ISS) has reportedly recommended that Siemens (ETR:SIEGn), the Munich-based technology group, should return to in-person annual general meetings.
The U.S.-based advisory firm has expressed dissatisfaction with Siemens' reasoning for holding virtual shareholder meetings, labeling it as "not convincing," according to a proposal seen by Reuters this week.
The firm's annual general meeting is scheduled to take place on Feb. 13 and a voting will take place on the matter.
Since 2021, Siemens has been holding virtual annual general meetings. To maintain this practice, the management board of the company needs a three-quarters majority vote.
However, this outcome is now uncertain due to opposition from ISS.
The firm also criticized Siemens' executive and supervisory boards for their lack of commitment to providing shareholders with the opportunity to attend a general meeting in person in the near future.
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