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Board Committees

Compensation Committee

Compensation Committee

It is an internal body created by the Board of Directors with the power to provide information, advising, and make proposals within its scope of action.

It consists of four directors.

  • 75%

    Independent Directors
  • 25%

    Proprietary Directors

Composition

It consists of at least three Outside Directors, the majority of which must be Independent. Its members are appointed by the Board of Directors for a period of four years by taking into account the expertise, skills, and experience of the Directors and the duties of the Committee. Without prejudice to one or more re-elections, they will be relieved of their duties at the end of the term, when their tenure as a Director ceases, when they are no longer considered Independent, or when agreed by the Board of Directors, subject to a prior report by the Audit and Control Committee.

Powers and responsibilities

The responsibilities of this Committee include, among others, submitting proposals and reporting to the Board of Directors on the compensation policy for Directors and Senior Management and its application.

Moreover, it ensures that any potential conflicts of interest do not impair the independence of the external advisory services provided the company, verifies the compensation information contained in the various corporate documents, and reports on the use of company information and assets for private purposes.