<p><strong>总部位于苏黎世的资产管理公司正在向年度股东大会提议对董事会进行全面改革。一组少数股东呼吁加强独立监督，并提出了自己的候选人。</strong></p>
<p>周一，GAM Holding 宣布了其计划于 2026 年 5 月 12 日举行的年度股东大会的董事会组成。通过这一举措，这家总部位于苏黎世的资产管理公司旨在推进继任和持续性规划；finews 报道了这一消息。</p>
<p>但董事会将面临不小的挑战。对其计划的抵制正在加剧。一组持有 GAM Holding 约 2.5% 投票权的股东提议选举 <strong>Benedetta Arese Lucini</strong>（见下图）进入董事会。但董事会对此毫无兴趣，并拒绝了她的提名。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.finews.asia/images/news/2026/04/Benedetta_Arese_Lucini.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.finews.asia/images/news/2026/04/Benedetta_Arese_Lucini.jpg"/></p>
<p>少数股东特别担心，通过董事会提名的候选人，主要股东 <strong>Xavier Niel</strong> 将能够通过其控股公司 NJJ 对未来董事会的组成施加重大影响，他们在一份声明中写道。</p>
<p>当前董事会的提名包括首席执行官 <strong>Albert Saporta</strong> 和主要股东的儿子 <strong>John Niel</strong>。</p>
<p>对治理结构的批评</p>
<p>从少数股东的角度来看，计划中的结构存在重大治理风险。这源于一次高度稀释的资本增资，使 NJJ 的持股比例超过 70%。</p>
<p>“董事会不能成为主要股东的家族办公室，” 股东代表 Antonio De Negri 说。在当前结构下，剩余的约 30% 股东实际上可能会失去任何影响力。</p>
<p><strong>呼吁独立监督</strong></p>
<p>通过 Benedetta Arese Lucini，少数股东特别引入了一位具有技术和金融专业知识的独立候选人。她预计将确保所有利益相关者的利益得到保障。</p>
<p>Arese Lucini 在建立数字和受监管金融公司方面拥有超过 15 年的经验。她曾共同创立金融科技平台 Oval Money，并在受监管的金融机构担任领导职务。此前，她曾在摩根士丹利和瑞士信贷担任投资银行家。她还曾在 Uber 意大利业务的强劲增长期间担任总经理。</p>
<p><strong>对机构投资者的呼吁</strong></p>
<p>根据其自身的声明，股东集团已经与代理顾问和瑞士的监管机构进行了讨论，以引起对治理问题的关注。特别是现在呼吁瑞士的机构投资者支持选举一名独立董事。</p>
<p>GAM 的董事会已正式确认该提案有效，但建议拒绝 Lucini 的选举。有关候选人和年度股东大会的更多细节将于 2026 年 4 月 20 日的邀请函中公布。</p>

GAMI

<p>GAM Holding 的一组少数股东反对提议的董事会重组，主张加强独立监督，并提名 Benedetta Arese Lucini 参选。他们表达了对大股东 Xavier Niel 可能主导董事会组成的担忧，这可能导致治理问题。这些持有 2.5% 投票权的股东认为，当前结构可能使他们失去影响力。他们正在寻求机构投资者的支持，而 GAM 的董事会已确认提名，但建议拒绝该提名。年度股东大会定于 2026 年 5 月 12 日举行</p>

<p><strong>The Zurich-based asset manager is proposing a comprehensive overhaul of the board of directors to the annual general meeting. A group of minority shareholders is calling for stronger independent oversight and has put forward its own candidate.</strong></p>
<div class="lb-trans"><p><strong>总部位于苏黎世的资产管理公司正在向年度股东大会提议对董事会进行全面改革。一组少数股东呼吁加强独立监督，并提出了自己的候选人。</strong></p>
</div><p>On Monday, GAM Holding announced the planned composition of its board of directors for the annual general meeting on May 12, 2026. With this move, the Zurich-based asset manager aims to advance succession and continuity planning; finews reported on this.</p>
<div class="lb-trans"><p>周一，GAM Holding 宣布了其计划于 2026 年 5 月 12 日举行的年度股东大会的董事会组成。通过这一举措，这家总部位于苏黎世的资产管理公司旨在推进继任和持续性规划；finews 报道了这一消息。</p>
</div><p>But the Board of Directors will not have an easy time of it. Resistance to its plans is growing. A group of shareholders holding approximately 2.5 percent of the voting rights in GAM Holding has proposed the election of B <strong>enedetta Arese Lucini</strong> (Picture below) to the Board of Directors. But the board of directors wants nothing to do with this and is rejecting her nomination.</p>
<div class="lb-trans"><p>但董事会将面临不小的挑战。对其计划的抵制正在加剧。一组持有 GAM Holding 约 2.5% 投票权的股东提议选举 <strong>Benedetta Arese Lucini</strong>（见下图）进入董事会。但董事会对此毫无兴趣，并拒绝了她的提名。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.finews.asia/images/news/2026/04/Benedetta_Arese_Lucini.jpg" alt="" original-src="https://www.finews.asia/images/news/2026/04/Benedetta_Arese_Lucini.jpg"/></p>
<p>The minority shareholders are particularly concerned that, through the candidates proposed by the board of directors, majority shareholder <strong>Xavier Niel</strong> will be able to exert significant influence over the composition of the board in the future via his holding company NJJ, as they write in a statement.</p>
<div class="lb-trans"><p>少数股东特别担心，通过董事会提名的候选人，主要股东 <strong>Xavier Niel</strong> 将能够通过其控股公司 NJJ 对未来董事会的组成施加重大影响，他们在一份声明中写道。</p>
</div><p>The current proposal for the Board of Directors includes, among others, CEO <strong>Albert Saporta</strong> and <strong>John Niel</strong>, the son of the majority shareholder.</p>
<div class="lb-trans"><p>当前董事会的提名包括首席执行官 <strong>Albert Saporta</strong> 和主要股东的儿子 <strong>John Niel</strong>。</p>
</div><p>Criticism of Governance Structure</p>
<div class="lb-trans"><p>对治理结构的批评</p>
</div><p>From the perspective of minority shareholders, the planned structure poses significant governance risks. This stems from a highly dilutive capital increase that gave NJJ a stake of over 70 percent.</p>
<div class="lb-trans"><p>从少数股东的角度来看，计划中的结构存在重大治理风险。这源于一次高度稀释的资本增资，使 NJJ 的持股比例超过 70%。</p>
</div><p>“A board of directors must not become a family office for the majority shareholder,” says shareholder representative Antonio De Negri. Under the current structure, there is a risk that the remaining approximately 30 percent of shareholders will effectively be left without any influence.</p>
<div class="lb-trans"><p>“董事会不能成为主要股东的家族办公室，” 股东代表 Antonio De Negri 说。在当前结构下，剩余的约 30% 股东实际上可能会失去任何影响力。</p>
</div><p><strong>Call for independent oversight</strong></p>
<div class="lb-trans"><p><strong>呼吁独立监督</strong></p>
</div><p>With Benedetta Arese Lucini, the minority shareholders are specifically bringing an independent candidate with proven technology and financial expertise into the mix. She is expected to ensure that the interests of all stakeholders are safeguarded.</p>
<div class="lb-trans"><p>通过 Benedetta Arese Lucini，少数股东特别引入了一位具有技术和金融专业知识的独立候选人。她预计将确保所有利益相关者的利益得到保障。</p>
</div><p>Arese Lucini has more than 15 years of experience in building digital and regulated financial companies. Among other things, she co-founded the fintech platform Oval Money and held leadership roles at regulated financial institutions. Previously, she worked as an investment banker at Morgan Stanley and Credit Suisse. She also served as General Manager of Uber’s Italian operations during a period of strong growth.</p>
<div class="lb-trans"><p>Arese Lucini 在建立数字和受监管金融公司方面拥有超过 15 年的经验。她曾共同创立金融科技平台 Oval Money，并在受监管的金融机构担任领导职务。此前，她曾在摩根士丹利和瑞士信贷担任投资银行家。她还曾在 Uber 意大利业务的强劲增长期间担任总经理。</p>
</div><p><strong>Appeal to Institutional Investors</strong></p>
<div class="lb-trans"><p><strong>对机构投资者的呼吁</strong></p>
</div><p>According to its own statements, the shareholder group has already held discussions with proxy advisors and regulatory authorities in Switzerland to draw attention to the governance issues. Institutional investors in Switzerland, in particular, are now being urged to support the election of an independent board member.</p>
<div class="lb-trans"><p>根据其自身的声明，股东集团已经与代理顾问和瑞士的监管机构进行了讨论，以引起对治理问题的关注。特别是现在呼吁瑞士的机构投资者支持选举一名独立董事。</p>
</div><p>GAM’s board of directors has since formally recognized the motion as valid but recommends rejecting Lucini’s election. Further details regarding the candidacy and the annual general meeting are to be published with the invitation on April 20, 2026.</p>
<div class="lb-trans"><p>GAM 的董事会已正式确认该提案有效，但建议拒绝 Lucini 的选举。有关候选人和年度股东大会的更多细节将于 2026 年 4 月 20 日的邀请函中公布。</p>
</div>

GAM：少数股东警告反对权力过于集中