Alimentation Couche-Tard shareholders dreaming of resuming in-person shareholder meetings like before the COVID-19 pandemic hit will likely have to mourn this or be extra patient.
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This is, in short, the answer that Alain Bouchard, founder and chairman of the Laval company, reserved yesterday morning to the very simple question posed by the representative of the Movement for Education and Defense of Shareholders (Médac).
“I would like to know the reasons why there are no face-to-face meetings this year,” he began with a question to the director of Médac, Willie Gagnon, during a long preamble in which he represented the opinion of the major banks All have their annual meetings again held in person.
Fourth meeting
With the COVID-19 pandemic, 2020 saw 100% virtual general meetings. For many companies, 100% virtual mode was only used for a while until many adopted hybrid mode (on-site or remote).
Unlike them, Alimentation Couche-Tard never resumed face-to-face meetings. This year was the fourth annual general meeting in a row that took place exclusively in virtual mode.
“Of course, a virtual meeting has undeniable advantages,” recognized Mr. Gagnon. But there is absolutely nothing that can replace a face-to-face meeting.
“For example, today,” he continued, “it is not possible to see the speakers, it is not possible to see whether shareholders are lining up to ask questions.” […]shaking hands is not possible […] speaking directly to administrators or managers, conducting a show of hands vote, and a thousand other things…”
Yes but no…
The CEO politely pointed out to the Médac representative that the company had a different opinion. “Like you, I like meeting people, I like it [serrer] Hands, I love meeting our shareholders […] when we are in person,” Mr. Bouchard initially explained.
The rest, however, was more difficult: “We talked about it. But we see that the virtual format is very well received by our shareholders. By minimizing costs and minimizing the carbon footprint of assembly, people don’t have to travel…
“Meeting people has always been important to me. But here we still believe that the weight of pros and cons favors the virtual mode,” adding that the company is taking measures to ensure that the experience for participants is as close to in-person as possible Participation is .
And so Mr. Bouchard ended the discussion: “We will continue to improve the experience.” […] Thanks to your feedback and the ever-evolving technology.”
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