2026 Proxy Season of Listed Companies: Analysis and Guidelines

Published on Oct 27, 2025

Georgeson and Cuatrecasas have published the 15th edition of "Corporate Governance and Institutional Investors,” a reference guide in Spain that assists Spanish listed companies in preparing for their general shareholders meetings and in anticipating potential demands of investors and proxy advisors. To this end, the guide analyzes the results of the last proxy season for companies in the IBEX 35 and the Top 40 companies on the Spanish continuous market (the "Top 40 companies”), and addresses the main trends and challenges of the 2026 proxy season.      

 

New to mark its 15th anniversary, the report includes a retrospective study of some of the most relevant issues in corporate governance and a study on the transformation of the general shareholders meeting in recent years.

 

Georgeson and Cuatrecasas have published the 15th edition of "Corporate Governance and Institutional Investors,” a reference guide in Spain that assists Spanish listed companies in preparing for their general shareholders meetings and in anticipating potential demands of investors and proxy advisors. To this end, the guide analyzes the results of the last proxy season for companies in the IBEX 35 and the Top 40 companies on the Spanish continuous market (the "Top 40 companies”), and addresses the main trends and challenges of the 2026 proxy season.      

 

New to mark its 15th anniversary, the report includes a retrospective study of some of the most relevant issues in corporate governance and a study on the transformation of the general shareholders meeting in recent years. Cuatrecasas counsel Coro Fernández-Rañada, a specialist in corporate practice, points out how "in recent years, the general meetings of listed companies have evolved from holding in-person meetings with all the shareholders, to the progressive incorporation of voting through the use of electronic tools, simultaneous remote participation and, more recently, toward a debate around holding these meetings in an exclusively virtual format."

 

Download the full report