The purpose of our best governance practices is to ensure that both the Company's management model and the decisions made by the Board of Directors and its committees are geared towards preserving the long-term interests of our stakeholders and guaranteeing the sustainability of the group.
Governance structure
Annual General Meeting
The Annual General Meeting is the independent governing body through which shareholders take part in the Company's decision-making process. The basis of its organization and functions are governed by our corporate bylaws as well as its own regulations, which include the norms governing its legal and statutory activity and completes the applicable discipline established by current trade legislation and in the Company bylaws.
Board of Directors
The Board of Directors is responsible for the governance, management, and administration of the Company's businesses and interests whenever these duties are not reserved for the Annual General Meeting.
Its activity is primarily focused on general supervision and matters of particular importance to the Company.
Board Committees
Without prejudice to the statutory capacity of the Board of Directors to create other committees, the Company currently has a Delegate Committee, Audit and Control Committee, Nomination Committee, Compensation Committee, and Sustainability Committee.
Executive committee
Presided by Josu Jon Imaz, the Executive Committee is responsible for cross-company decisions and policymaking in the global sphere.
It approves the elements of governance needed in risk management, oversees their proper application, and monitors the Company's performance in matters related to risk.
Advancing our Corporate Governance best practices
The ultimate objective behind corporate governance is to meet the highest good governance standards at the national and international level.
Women make the 40% of the Board of Directors.
Separation and transparency between the functions of the chairman and the CEO.
Lead independent director since March 27, 2018.
More than 70% independent directors.
