Develop corporate policies the principles reflected in the system of corporate governance of the Company and contain guidelines that govern the actions of the Company and its Group companies, and their directors, officers and employees, as part of the Strategic Plan and vision and values of the Company.

The Company is a set of principles and values that express their commitment to corporate governance, business ethics and corporate social responsibility. His knowledge, dissemination and implementation are guiding the actions of the Board of Directors and its committees and other bodies of the Company in its relations with shareholders, investors, customers, suppliers and the general public.

The principles set out below are the pillars on which the action is based on the Company's corporate governance:

  • The Company has adopted a corporate governance system that takes into account the good governance recommendations generally recognized in international markets.
  • The strategy of the Company regarding corporate governance pursued steadily maximizing the economic value of the Company and its long-term successful conclusion, in accordance with the public interest, taking into consideration the legitimate interests, public or private, that influence the development of all business activities and, especially, among the various stakeholders, the communities and regions in which the Company operates and its employees.
  • The shareholders of the Company should exercise their rights against the Company and other shareholders and fulfill their duties with loyalty, good faith and transparency, under the corporate interest as against an individual priority interest of each shareholder in accordance with the corporate governance system of the Company.
  • The Board of Directors of the Company has a majority of independent directors and advisory committees composed of outside directors.
  • The Company seeks gender diversity in the composition of the Board and its committees and other bodies of the Company, reflecting the social and cultural reality of the Group.
  • The Company added to its system of corporate governance mechanisms and procedures to prevent, identify and try to resolve conflicts of competence and interest, either specific or structural and permanent.
  • The Group's governance model maintains proper separation between the management and monitoring functions within the Company and the Group, as well as between the central role of strategy and decentralized executive responsibilities.
  • The Company and the Group assume any legally established in relation to the legal and functional unbundling of regulated companies, guaranteeing independence in daily management of these companies and their managers.
  • The Company makes available to its shareholders and investors relevant information on the progress of the Company and its Group, as provided by law and the corporate governance system.

    To that transparency is one of the values that configure their relationships with the markets and the public at large and without prejudice to the obligation to publish yearly financial reports and annual, quarterly management statements and relevant facts are legally enforceable, the Company added to its corporate website information that reasonably could be of interest to its shareholders and investors.
  • The Company seeks to ensure, as far as possible, of respectability, capability, expertise, competence, experience, qualifications, training, availability and commitment to the role of directors and senior management.

    The Nomination and Remuneration Committee establishes an annual program evaluation and ongoing review of the qualifications, training and, where applicable, independence, and the maintenance of conditions of respectability, capability, expertise, competence, availability and commitment to their role , required for the performance of the Chief Executive and member of a particular committee of the Board of Directors.
  • The Company sets its remuneration policy for directors and their remuneration policy for senior executives on principles that combine motivation, loyalty and the objective evaluation of performance management and the dedication and achievement of the objectives and results of the Company and the Group, in the context of the international activity of the Company and the Group.
  • The Company encourages informed participation of shareholders at the Annual General Meeting and take the necessary steps to enable it effectively perform its functions and powers that are proper under the law and the system of corporate governance.
  • The Company is confident the president of the Board institutional leadership, drive and protection initiatives and development projects and improving the system of corporate governance of the Company and ensuring its proper functioning.