IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT 20. Significant relationships between members of Board of Directors and qualified shareholders There are no family, professional or business relationships with holders of qualifying shareholdings beyond the fact that the Directors, Dr. António Carlos Vaz Pinto de Sousa and Dr. António Alberto Guerra Leal Teix- eira, through companies Calum-Serviços de Gestão, SA. and Dunbar – Serviços de Gestão, SA., have the control of ATPS SGPS, SA. and this company detains 54.91% of the share capital of Ibersol SGPS, SA, partici- pation that is imputed to them individually as well. 21. Division of powers between the different boards, committees and/or departments within the company, including information on delegating responsibilities, particularly regarding 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 func- tions and form an Executive Committee, which was elected and whose powers of day-to-day management were delegated by the board of di- rectors under terms of Article 8.4 of the by-laws of the Company and Article 407.3 of the Companies Code (CSC) and the third director per- forms non-executive functions without delegation of management pow- ers. The executive committee coordinates the operations of the function- al units and the various corporate businesses, meeting with the senior managers of these units and businesses on periodic and regular basis. The decisions taken by the functional and business managers, which must respect the overall guidelines, are taken under powers delegated by the Executive Committee and are coordinated in periodic meetings. The powers delegated to the Executive Committee are as follows: 232