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Proxy Advisors


The Proxy Advisors become increasingly important in the dialogue with your shareholders and investors. Proxy Advisors analyse your compensation report and provide voting recommendations for all the items of the Annual General Meeting, including the Say-on-Pay vote.

Therefore, it is important to actively manage the relationship with the Proxy Advisors and understand their thoughts on your remuneration programme. Some Proxy Advisors have published guidelines about Corporate Governance and Executive Compensation, which should be taken into consideration when remuneration programmes are reviewed and/or redesigned and for the compensation disclosure in the compensation report

International Proxy Advisors

ISS is a US-based Proxy Advisor that is of high importance for any multinational company and it publishes a European policy guideline. Starting with the 2018 proxy season, ISS will use their pay-for-performance alignment methodology to assess the link between pay and performance of large European companies.

Glass Lewis is also an important Proxy Advisor and has also published a European policy guideline, as well as a specific Swiss policy guideline.

Swiss Proxy Advisors

Ethos is a major Proxy Advisor in Switzerland and has published the Corporate Governance Principles, which contains principles around the structure of compensation programmes and the disclosure of compensation in the Compensation Report. Ethos also publishes their voting positions a few days before the Annual General Meeting of the company in question.

zRating is another Proxy Advisor in Switzerland and has issued a voting guideline. zRating publishes their voting recommendations prior the Annual General Meetings, as well as a yearly Corporate Governance study.

Contact us

Agnes Hoevenaars-Blust

Agnes Hoevenaars-Blust

Managing Director, PwC Switzerland

Tel: +41 58 792 18 50

Angela Bucher

Angela Bucher

Director, People and Organisation, PwC Switzerland

Tel: +41 58 792 43 16