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Corporate Governance Report
in promoting a responsible and proactive in managing
resources and waste.
The procedures dealt with in the Ibersol Standards Man-
ual concerning this area mainly focus on rational elec-
tricity usage and recycling used oils.
Contingency
The unpredictable evolution of the financial markets
may lead to increased financing costs and credit access
problems, although we believe the company will be able
to overcome such difficulties.
The sharp fall in public consumption in the last year,
mainly in Portugal, with reflexion in restaurant sales,
makes us provide a very negative trend in sales in 2013.
To mitigate the effect on income, the society is to adopt
a strict control of costs, a monthly monitoring of market
developments and consequent revision of the resource
planning to use.
On the other hand, operations in the foodservice area
can be affected by eventual epidemics or raw material
market distortions or eventual changes in consumption
standards, which may significantly impact the financial
statements.
II.6 Responsibility of the board and the supervisory
body in the creation and operation of internal con-
trol and risk management in society, as well as eval-
uating the functioning and adjustment to society’s
needs.
The board of the company constantly monitors the sys-
tems of internal control and risk management company,
offering efficient and updated information, assessing
current and systematic way for its functioning and ad-
justment to society’s needs, providing the supervisory
board all the information you requested.
II.7. Indication on the existence of regulations on
the functioning of the corporate bodies or any inter-
nally defined rules on incompatibility and the maxi-
mum number of positions that a member is entitled
to hold and the place where these rules may be con-
sulted at.
The company has Board of Directors and Statutory Au-
dit Committee regulations about its functioning rules,
published in the company’s website.
A list of incompatibilities has not been determined, nor
has the maximum number of positions directors may
accumulate in management bodies of other companies,
so far as the company’s directors, except for the non-
executive director, only exercise executive functions in
the companies comprising the Group.
The non-executive member attended board of directors
meetings, and he has been timely informed of the re-
spective agenda. He participates, with regularity, in the
executive committee reunions, especially those ones
over discussion of the strategic and planning of the cor-
porate business. He provides special support to the Man-
agement Control function and to the development of
personnel in that Department. Permanently, he receives
from the management control department, the informa-
tion that suites him to follow the current activity.
Section II – Board of Directors
II.8 If the Chairman of the Board performs executive
duties, indicate the mechanisms for coordinating
the work of non-executive members to ensure the
independent and informed nature of their decisions.
The Chairman of the Board, exercising executive func-
tions, undertake the necessary coordination mecha-
nisms with other members of the Board, particularly
with the non - executive, by means of permanent and
direct information, without any constraints that prevent
independent and informed decisions.
II.9 Identification of main risks to economic, finan-
cial and legal matters that society is exposed to in
the pursuit of it´s activity.
