Shareholder Adviser ISS Wants to Block Virtual AGMs at Siemens

In an era where digital meetings have become the norm, influential shareholder adviser ISS has raised concerns about Siemens' continued use of virtual Annual General Meetings (AGMs). The company, which has been holding virtual AGMs since 2021, is now facing a potential three-quarters majority vote against its proposal to continue with this format. ISS has recommended that shareholders vote against allowing virtual meetings in the coming years, citing a lack of commitment to in-person meetings and an unconvincing justification for the virtual format.



Siemens has defended its proposal to continue with virtual AGMs, citing "very good experiences" with the format. However, ISS has criticized the company's lack of commitment to providing shareholders with the opportunity to attend in-person meetings in the near future. The advisory firm has also expressed concerns about the lack of transparency and accountability in virtual meetings, which may hinder shareholder engagement and trust.