Euronav’s bid to resist major shareholder CMB’s attempt to clear out its supervisory board has gained important momentum on Friday.
The Belgian tanker owner said leading independent proxy advisory company Institutional Shareholder Services (ISS) is recommending shareholders vote in favour of the board’s recommendations at a crucial meeting on 23 March.
The Saverys family, the owner of CMB, wants all five current directors out and their own five nominees in, plus two from the other major shareholder, Famatown Finance, controlled by tycoon John Fredriksen.
