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The Executive Committee will meet as many times as it is convened by its Chairman, and its Secretary and Deputy Secretary will be those who
perform the identical positions on the Board of Directors. The Executive Committee shall be validly convened when half plus one of its members
with a right to vote are present or represented at the meeting.
Resolutions shall be passed by a majority of the Directors at the meeting with the right to vote (in person or by proxy), with the Chairman
holding the casting vote in the event of a tie.
Furthermore, those other Directors who have expressed an interest and have been authorised by the Board of Directors may attend and
participate in Executive Committee meetings, with the right to speak but not vote, until they no longer hold their position. Said Directors without
a vote will receive the same information and meeting announcements as the other voting Directors on the Executive Committee at the same
time.
The Executive Committee shall notify the Board of the matters discussed and the decisions made at its meetings.
State whether the composition of the delegate or executive committee reflects the participation on the Board of different categories of
Directors:
NO
If not, explain the composition of the Delegate or Executive Committee
As of 31/12/2015, the Executive Committee comprises six members:
Chairman: Mr José Antonio Castro Sousa (Proprietary)
Deputy Chairman: Mr Charles Mobus (Proprietary)
Members: Mr Federico González Tejera (Executive)
Mr Alfredo Fernández Agras (Proprietary)
Mr Xianyi Mu (Proprietary)
Mr Francisco Javier Illa Ruiz (Proprietary)
AUDIT AND CONTROL COMMITTEE
First Name
Position
Type
MS KORO USARRAGA UNSAIN
CHAIRMAN
Independent
MR CARLOS GONZÁLEZ FERNÁNDEZ
MEMBER
Independent
MR FRANCISCO ROMÁN RIECHMANN
MEMBER
Independent
MR FRANCISCO JAVIER ILLA RUIZ
MEMBER
Proprietary
MR XIANYI MU
MEMBER
Proprietary
% of Proprietary Directors
40.00%
% of Independent Directors
60.00%
% de otros externos
0,00%
Explain the functions of this committee, describe its organisational and working procedures and rules and summarise its most important
activities during the financial year.
The Committee shall be formed by between three and six Directors designated by the Board, composed of external Directors, the majority
of whom, at least, must be independent Directors, and one of whom must be designated by taking into consideration his/her knowledge and
experience in accounting, auditing, or both.
The Chairman must be appointed from among its independent members. The Chairman must also be replaced every four years; previous
chairmen may be re-elected one year after their previous mandate has ended.
ANNUAL CORPORATE GOVERNANCE REPORT
