Corporate Governance Report
respect the overall guidelines, are taken under powers delegated by the Executive Committee
and are coordinated in committee 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 strategic level, within the legal limits of art. 407.4 of the CSC., 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 economic and financial situation and in the exercise of the function of
control of the companies belonging to the Ibersol Group.
b) 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 busi-
ness, 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 terminat-
ing cooperation agreements with other companies.
The Executive Committee meets monthly and whenever called by the Chairman. Apart from
the regular contacts established between the members of the Executive Committee in the
periods between meetings, a total of 27 meetings were held during 2016.
The members of the Executive Committee provide the information requested by other mem-
bers of the corporate governing bodies in a timely manner.
150
