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CORPORATE GOVERNANCE REPORT
20. Significant relationships between members of
Board of Directors and qualified shareholders
There are no family, professional or business relation-
ships with holders of qualifying shareholdings beyond
the fact that the directors António Alberto Guerra Leal
Teixeira and António Carlos Vaz Pinto de Sousa are the
owners, in equal shares, of the company ATPSII- SGPS,
SA, which holds 54.44% of the share capital of Ibersol.
21. Division of powers between the different
boards, committees and/or departments within
the company, including information on delegating
responsibilities, particularly with regard to the
delegation of powers, in particular with regard
to the delegation of daily management of the
Company
Two of the members of the Board of Directors perform
executive functions and form an Executive Committee,
which was elected and has powers delegated to it by
the Board of Directors under the terms of art. 8.4 of the
Bylaws of the Company. The third director performs
non-executive functions.
The executive committee coordinates the operations of
the functional units and the various businesses, meet-
ing with the senior managers of these units and busi-
nesses on a regular basis. The decisions taken by the
functional and business managers, which must respect
the overall guidelines, are taken under powers delegat-
ed by the Executive Committee and are coordinated in
periodic meetings.
The powers delegated to the Executive Committee are
as follows:
a) Exercise full powers of decision making, management
and monitoring of the Company’s activity at a strate-
gic level, within the legal limits of art. 407.4 of the CSC.
b) Develop, plan and schedule the actions of the gover-
ning body, in the Company’s internal and external
plan for the year, so as to achieve the corporate ob-
jectives in accordance with the Company’s mission,
in particular assisting the Board of Directors in the
proper verification of the instruments of supervision
of the economic and financial situation and in the
exercise of the control function over the companies
belonging to the Ibersol Group.
c) It is responsible for assisting the Board of Directors
in the updating of its structures of advice and func-
tional support; in the procedures of the companies
belonging to the Ibersol Group, in line with the chan-
ging needs of the business, defining the profiles and
characteristics of their strategic partners, customers,
workers, employees and other agents; and in the
conduct of the Group’s relationships with its environ-
ment, acquiring, disposing and encumbering movable
property and establishing or terminating cooperation
agreements with other companies.
The organization chart and distribution of tasks is as
follows:
