ANNUAL REPORT 2016
17. Composition of the Board of Directors
The Board of Directors is currently made up of three members, the executive members being
the Chairman and Vice-Chairman. The Board of Directors shall choose its own chairman if a
chairman has not been appointed by the General Meeting at the time the Board was elect-
ed. The Board of Directors may specifically appoint one or more directors to handle certain
matters. As of December 31st 2016 the Board of Directors was made up of the following
members:
Chairman – António Alberto Guerra Leal Teixeira;
Vice-Chairman – António Carlos Vaz Pinto de Sousa;
Member – Juan Carlos Vázquez-Dodero de Bonifaz;
All the members were elected by the General Meeting on May 6th 2013 for a term that has
expired in the December 31st 2016 but these members are in exercise till the new election of
the Board by the General Meeting.
The dates on which the current members were first elected to their posts are as follows:
António Carlos Vaz Pinto de Sousa, 1991; António Alberto Guerra Leal Teixeira, 1997; and Prof.
Juan Carlos Vázquez-Dodero de Bonifaz, 1999.
Under article 27 of the Bylaws, directors are elected for a period of four years.
The Board of Directors may also delegate the day-to-day management of the Company to one
or more directors or an executive committee, within the terms and limits established by law.
The Board of Directors shall be responsible for regulating the functioning of the Executive
Committee and the way it exercises the powers assigned to it.
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