Assignment shareholder engagement in European
Companies 2026
Management report
Tilburg University.
Student:
Student:
Subject: Corporate Governance and Sustainability
Docent: de heer Van der Elst
15/4/2026
2025/2026
, EXECUTIVE SUMMARY
This report examines shareholder engagement in 15 European listed companies during
the 2025 annual general meeting season. The purpose is to assess the practical role of
the general meeting of shareholders and to evaluate whether shareholders exercise
meaningful influence over corporate decision-making, especially in relation to
environmental, social and governance (ESG) matters. The selected companies are
components of the STOXX Europe 600 and include at least one French, German, British
and Dutch company.1
The report finds that shareholders attendance at AGMs is generally high in large-cap
European companies, although turnout varies depending on ownership structure,
company size, and the salience of the agenda. Routine resolutions such as approval of
accounts, dividends, and auditor appointments are usually approved by very large
majorities. By contrast, more contested voting items include remuneration, board
composition, share issuance authorities, shareholder rights, and strategic sustainability-
related questions.2
From a policy perspective, the AGM should not be seen merely as a ceremonial ratification
mechanism. It remains one of the few institutional moments at which shareholders can
collectively discipline boards, express dissent, and influence strategic debates. The report
therefore argues that future reform should focus on strengthening shareholders voting
rights in relation to transition planning, meeting format and participation rights, and
mandatory board responses to significant dissent.
Inhoudsopgave
1
https://stoxx.com/index/sxxp
2
https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX%3A32007L0036&
Companies 2026
Management report
Tilburg University.
Student:
Student:
Subject: Corporate Governance and Sustainability
Docent: de heer Van der Elst
15/4/2026
2025/2026
, EXECUTIVE SUMMARY
This report examines shareholder engagement in 15 European listed companies during
the 2025 annual general meeting season. The purpose is to assess the practical role of
the general meeting of shareholders and to evaluate whether shareholders exercise
meaningful influence over corporate decision-making, especially in relation to
environmental, social and governance (ESG) matters. The selected companies are
components of the STOXX Europe 600 and include at least one French, German, British
and Dutch company.1
The report finds that shareholders attendance at AGMs is generally high in large-cap
European companies, although turnout varies depending on ownership structure,
company size, and the salience of the agenda. Routine resolutions such as approval of
accounts, dividends, and auditor appointments are usually approved by very large
majorities. By contrast, more contested voting items include remuneration, board
composition, share issuance authorities, shareholder rights, and strategic sustainability-
related questions.2
From a policy perspective, the AGM should not be seen merely as a ceremonial ratification
mechanism. It remains one of the few institutional moments at which shareholders can
collectively discipline boards, express dissent, and influence strategic debates. The report
therefore argues that future reform should focus on strengthening shareholders voting
rights in relation to transition planning, meeting format and participation rights, and
mandatory board responses to significant dissent.
Inhoudsopgave
1
https://stoxx.com/index/sxxp
2
https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX%3A32007L0036&
