Walter Becker acknowledges the corporate governance activities of Allianz Global Investors (AGI) under the heading “Every second compensation rejected”. In three quarters of the Annual General Meetings, the AGI voted against at least one item on the agenda. “In 2018, the most controversial item was management remuneration proposals, which were not approved by AGI in 52 percent of all cases worldwide,” said Becker. The AGI also sees a need for improvement in German stock corporations. In particular, the fund company criticized the lack of transparency and holistic approach. German companies should therefore adjust to stronger headwinds and review their remuneration policies.