Corporate Governance Report
14. Resolutions which only may be taken by qualified majority
Shareholder resolutions are not subjust, under the Bylaws, to qualified majorities,
unless such a requirement is imposed by law. Thus, unless the law provides other-
wise, resolutions of the General Meeting shall be adopted by simply majority (art.
21.2 of the Bylaws);
II. MANAGEMENT AND SUPERVISION
a) Composition
Board of Directors
Chairman – Dr. António Alberto Guerra Leal Teixeira;
Vice-Chairman – Dr. António Carlos Vaz Pinto de Sousa;
Member – Professor Doutor Juan Carlos Vázquez-Dodero
Audit Committee
Chairman – Dr. Joaquim Alexandre de Oliveira e Silva;
Vice-Chairman – Dr. António Maria de Borda Cardoso;
Member – Dr. Eduardo Moutinho dos Santos;
Substitute – Dr.ª Maria Helena Moreira de Araújo;
Statutory Auditor
- PriceWaterHouseCoopers & Associados – Sociedade de Reviso-
res Oficiais de Contas, Lda.;
15. Identification of model of governance adopted
The Company adopts a classical, monist model of governance, made up of Board of
Directors and the Audit Committee, the Statutory Auditor having been appointed
by the General Meeting. The Board of Directors is responsible for performing all
the administrative acts relating to the corporate object, determining the Compa-
ny’s strategic guidelines, and appointing and overseeing the work of the Executive
Committee, no specialized committees having been formed. The Executive Com-
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