Board of Directors

[M] Member since

[FE] Financial Expert

Corporate Governance

The Board of Directors is the Group’s highest governing body. The Chairman of the Board is also the Chief Executive Officer. GRI 102-23

The ratification process of Board members is carried out by means of a vote taken by the Shareholders at the Annual Meeting. To be selected, Board members must meet the following requirements: i) professional training in economic-administrative sciences, preferably with a master’s degree in those areas; ii) twenty years’ minimum professional experience in consumer companies and/or the finance sector; iii) experience as a board member in manufacturing industry companies and/or the finance sector; and iv) belong to business organizations. GRI 102-24

The Board meets at least quarterly and has intermediate bodies in charge of monitoring the management and execution of the Company’s objectives. During the Board meetings, a sustainability performance report is presented, which includes environmental performance and quality of life indicators for collaborators. GRI 102-26 GRI 102-29 GRI 102-31

In accordance with Company bylaws, the remuneration received by Board members is three 50-peso gold coins (Centenarios) or their equivalent for attending each meeting; this remuneration is not dependent on the Group’s profits. GRI 102-35 The Corporate Practices Committee is responsible for validating the remuneration of the Company’s senior executives, including the Chief Executive Officer. GRI 102-36

To avoid conflicts of interest, each Board member signs a declaration that guarantees the absence of conflicts, and each Committee has regulations that establish its functions and relationship with the Board of Directors. GRI 102-25 GRI 102-22