This is possible not only meeting the required legal standards and the most far-reaching national and international recommendations in this field, but voluntarily implementing a full range of measures and initiatives that address the core of the most important issues regarding good governance of the Company and that are most in demand and of greatest concern to shareholders, investors and markets.
In this respect, Red Eléctrica has implemented a series of corporate governance measures in relation to the General Shareholders’ Meeting and the Board of Directors
- Concluded the process of the separation of executive functions, corresponding to the CEO, and of the control and supervision, corresponding to the Chairman.
- Reduced Board consisting of twelve members.
- Majority of independent directors, 58%
- Creation of the position of Lead Independent Director with wide-ranging responsibilities.
- Gender diversity, 50% of members and 54.5% of external directors are women.
- The Committees are composed of a majority of independent directors and all its members are external directors.
- The Committees are chaired by independent directors.
- Annual evaluation of the Board of Directors, its Committees and the Chairman of the Board by an independent external advisor
- Protocol for Board engagement with employees
- There is no minimum number of shares required to attend the Meeting.
- Representation at the Meeting by any person, without the need to be a shareholder.
- Separate vote on each of the matters submitted for approval at the Meeting.
- Remuneration of the Board of Directors submitted for approval of the Meeting.
- Promoting participation of shareholders at the Meeting by the introduction, since 2005, of the electronic voting system
- External audit of the management processes of the Ordinary General Shareholders Meeting.
- Creation of a specific section on the corporate website with all the information relating to the Meeting.
- Live broadcast of the Meeting via the Internet, with simultaneous translation into English.
- Implementation of the Electronic Shareholder Forum.
- Dissemination on social networks.