Proxy Adviser ISS Opposes Virtual Siemens AGMs
Shareholder advisory firm Institutional Shareholder Services (ISS) recommends shareholders vote against Siemens' proposal to continue holding virtual annual general meetings (AGMs). This follows Siemens' decision to hold virtual AGMs since 2021.
To retain virtual AGMs, Siemens requires a three-quarters majority vote, which ISS believes is uncertain given its opposition. ISS criticized Siemens for its "unconvincing" justification for virtual meetings and its lack of commitment to providing in-person attendance opportunities.
Financial sources indicate Siemens has booked the Munich Olympiahalle for 2026, suggesting it is preparing for a potential defeat in the upcoming vote. A Siemens spokesperson declined to comment on the reservation but defended the proposal, citing positive experiences. The company asserted its virtual AGMs offer a similar experience to in-person meetings, utilizing digital technology.