Corporate governance

Committees

The Committees have been constituted by the Board of Directors as support committees for its responsibilities, of a highly technical nature, and in order to achieve greater efficiency and transparency.

These committees are the Audit Committee and the Appointments and Remuneration Committee. The duties and responsibilities of the Committees are established in the Corporate Bylaws and the Regulations of the Board of Directors, which are adapted to current legislation and the recommendations contained in the Unified Code of Good Governance.

The Committees of the Board are composed of qualified professionals, with very prominent responsibilities in other institutions and / or companies outside the Company. All are external directors, with a majority of independent directors. The mandates of its members are limited to three years and may be renewed. There are no Board members who belong to both committees, therefore ensuring full independence of the Committees.

Both committees are chaired by independent directors with a mandate limited to a maximum of three years without the possibility of being re-elected until a year out of office has transpired