Corporate governance

Corporate governance

Committees

Committees are constituted by the Board of Directors to support those responsibilities inherent to it; said committees are of a highly technical nature and are established in order to achieve greater efficiency and transparency. Noteworthy is the fact that the creation of the new Sustainability Committee is motivated by the strategic nature that sustainability has for the Red Eléctrica Group.

The following committees are currently in place: the Audit Committee, the Appointments and Remuneration Committee and the new Sustainability 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 to the recommendations contained in the Unified Code of Good Governance. The duties of the new Sustainability Committee will be set out in the Regulations of the Board of Directors.

The Committees of the Board are comprised of qualified professionals, with very relevant responsibilities in other institutions and companies outside Red Eléctrica. All directors are external members, with a majority of independent directors. There are no Board members who belong to more than one Committee, therefore ensuring full independence of the Committees. These Committees are chaired by independent directors.