Annual Report and Consolidated Accounts 2015
Two of the members 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
company’s various businesses, meeting with the senior managers of these units and
businesses on a regular basis. The decisions taken by the functional and business
managers, which must respect the overall guidelines, are taken under powers del-
egated by the Executive Committee and are coordinated in committee meetings.
The powers delegated to the Executive Committee are as follows:
d) Exercise full powers of decision making, management and monitoring of the Com-
pany’s activity at a strategic level, within the legal limits of art. 407.4 of the CSC.
e) Develop, plan and schedule the actions of the governing body, in the Company’s
internal and external plan for the year, so as to achieve the corporate objectives
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 eco-
nomic and financial situation and in the exercise of the function of control of the
companies belonging to the Ibersol Group.
f) The Executive Committee is also responsible for assisting the Board of Directors
in the updating of its structures of advice and functional support; in overseeing
the procedures of the companies belonging to the Ibersol Group, in line with the
changing 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 environment, acquiring, disposing
and encumbering movable property and establishing or terminating cooperation
agreements with other companies.
The Executive Committeemeetsmonthly andwhenever called by the Chairman. Apart
from the regular contacts established between the members of the Executive Com-
mittee in the periods betweenmeetings, a total of 50meetings were held during 2015.
The members of the Executive Committee provide the information requested by
other members of the corporate governing bodies in a timely manner.
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