The Board of Directors of the company decided to create this committee in order to gauge, on a regular basis, the views of minority shareholders. Repsol is thus the first energy company on the IBEX to provide this type of advisory body. In France, a benchmark country in this field, this corporate governance model was already implemented 20 years ago, a model which establishes communication channels between retail shareholders and company management.
In addition to the Advisory Committee, the community has several bi-directional communication channels available, "something highly valued by people who appreciate immediate and multi-channel information," says Clara Velasco, Deputy Director of Shareholder Relations at Repsol. With an average age of 55 years, a common age within IBEX companies, "many shareholders are not digital natives and prefer face-to-face events." The shareholder relations team of Repsol visits four Spanish cities each quarter, coinciding with the presentation of the financial statements. These road shows, "which are like AGMs on a mini-scale", were attended by more than 1,000 shareholders in 2013 and "are very well received because they provide a professional and data-laden response to any question."
The energy company has created an advisory committee to hear the concerns of its minority shareholders
In the year in which Repsol celebrates 25 years since its IPO, the company is moving towards greater involvement of its shareholder base in the life of the company and towards a transparency which, in the words of Antonio Brufau, "should also be seen as a way to create value for the company."
Retail investors at the company hold on average 487 securities and view Repsol shares to be a safe investment