<p><strong>總部位於蘇黎世的資產管理公司正在向年度股東大會提議對董事會進行全面改革。一組少數股東呼籲加強獨立監督，並提出了自己的候選人。</strong></p>
<p>週一，GAM Holding 宣佈了其計劃於 2026 年 5 月 12 日舉行的年度股東大會的董事會組成。通過這一舉措，這家總部位於蘇黎世的資產管理公司旨在推進繼任和持續性規劃；finews 報道了這一消息。</p>
<p>但董事會將面臨不小的挑戰。對其計劃的抵制正在加劇。一組持有 GAM Holding 約 2.5% 投票權的股東提議選舉 <strong>Benedetta Arese Lucini</strong>（見下圖）進入董事會。但董事會對此毫無興趣，並拒絕了她的提名。</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>少數股東特別擔心，通過董事會提名的候選人，主要股東 <strong>Xavier Niel</strong> 將能夠通過其控股公司 NJJ 對未來董事會的組成施加重大影響，他們在一份聲明中寫道。</p>
<p>當前董事會的提名包括首席執行官 <strong>Albert Saporta</strong> 和主要股東的兒子 <strong>John Niel</strong>。</p>
<p>對治理結構的批評</p>
<p>從少數股東的角度來看，計劃中的結構存在重大治理風險。這源於一次高度稀釋的資本增資，使 NJJ 的持股比例超過 70%。</p>
<p>“董事會不能成為主要股東的家族辦公室，” 股東代表 Antonio De Negri 説。在當前結構下，剩餘的約 30% 股東實際上可能會失去任何影響力。</p>
<p><strong>呼籲獨立監督</strong></p>
<p>通過 Benedetta Arese Lucini，少數股東特別引入了一位具有技術和金融專業知識的獨立候選人。她預計將確保所有利益相關者的利益得到保障。</p>
<p>Arese Lucini 在建立數字和受監管金融公司方面擁有超過 15 年的經驗。她曾共同創立金融科技平台 Oval Money，並在受監管的金融機構擔任領導職務。此前，她曾在摩根士丹利和瑞士信貸擔任投資銀行家。她還曾在 Uber 意大利業務的強勁增長期間擔任總經理。</p>
<p><strong>對機構投資者的呼籲</strong></p>
<p>根據其自身的聲明，股東集團已經與代理顧問和瑞士的監管機構進行了討論，以引起對治理問題的關注。特別是現在呼籲瑞士的機構投資者支持選舉一名獨立董事。</p>
<p>GAM 的董事會已正式確認該提案有效，但建議拒絕 Lucini 的選舉。有關候選人和年度股東大會的更多細節將於 2026 年 4 月 20 日的邀請函中公佈。</p>

GAMI

<p>GAM Holding 的一組少數股東反對提議的董事會重組，主張加強獨立監督，並提名 Benedetta Arese Lucini 參選。他們表達了對大股東 Xavier Niel 可能主導董事會組成的擔憂，這可能導致治理問題。這些持有 2.5% 投票權的股東認為，當前結構可能使他們失去影響力。他們正在尋求機構投資者的支持，而 GAM 的董事會已確認提名，但建議拒絕該提名。年度股東大會定於 2026 年 5 月 12 日舉行</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>總部位於蘇黎世的資產管理公司正在向年度股東大會提議對董事會進行全面改革。一組少數股東呼籲加強獨立監督，並提出了自己的候選人。</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>週一，GAM Holding 宣佈了其計劃於 2026 年 5 月 12 日舉行的年度股東大會的董事會組成。通過這一舉措，這家總部位於蘇黎世的資產管理公司旨在推進繼任和持續性規劃；finews 報道了這一消息。</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>但董事會將面臨不小的挑戰。對其計劃的抵制正在加劇。一組持有 GAM Holding 約 2.5% 投票權的股東提議選舉 <strong>Benedetta Arese Lucini</strong>（見下圖）進入董事會。但董事會對此毫無興趣，並拒絕了她的提名。</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>少數股東特別擔心，通過董事會提名的候選人，主要股東 <strong>Xavier Niel</strong> 將能夠通過其控股公司 NJJ 對未來董事會的組成施加重大影響，他們在一份聲明中寫道。</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>當前董事會的提名包括首席執行官 <strong>Albert Saporta</strong> 和主要股東的兒子 <strong>John Niel</strong>。</p>
</div><p>Criticism of Governance Structure</p>
<div class="lb-trans"><p>對治理結構的批評</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>從少數股東的角度來看，計劃中的結構存在重大治理風險。這源於一次高度稀釋的資本增資，使 NJJ 的持股比例超過 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>“董事會不能成為主要股東的家族辦公室，” 股東代表 Antonio De Negri 説。在當前結構下，剩餘的約 30% 股東實際上可能會失去任何影響力。</p>
</div><p><strong>Call for independent oversight</strong></p>
<div class="lb-trans"><p><strong>呼籲獨立監督</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>通過 Benedetta Arese Lucini，少數股東特別引入了一位具有技術和金融專業知識的獨立候選人。她預計將確保所有利益相關者的利益得到保障。</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 在建立數字和受監管金融公司方面擁有超過 15 年的經驗。她曾共同創立金融科技平台 Oval Money，並在受監管的金融機構擔任領導職務。此前，她曾在摩根士丹利和瑞士信貸擔任投資銀行家。她還曾在 Uber 意大利業務的強勁增長期間擔任總經理。</p>
</div><p><strong>Appeal to Institutional Investors</strong></p>
<div class="lb-trans"><p><strong>對機構投資者的呼籲</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>根據其自身的聲明，股東集團已經與代理顧問和瑞士的監管機構進行了討論，以引起對治理問題的關注。特別是現在呼籲瑞士的機構投資者支持選舉一名獨立董事。</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 的董事會已正式確認該提案有效，但建議拒絕 Lucini 的選舉。有關候選人和年度股東大會的更多細節將於 2026 年 4 月 20 日的邀請函中公佈。</p>
</div>

GAM：少數股東警告反對權力過於集中