Home- Good Governance
Governing Bodies.
Annual General Meeting
The general meeting is Lar España’s highest decision-making and control body; it is the vehicle around which shareholders’ right to intervene in the company’s essential decisions, within their purview, is articulated.
Corporate Social Responsibility Policy
Shareholder structure 31 December 2018 (%)
Share Capital 31 December 2018
In 2018, Lar España held its Annual General Meeting on 19 April. The main agenda items addressed:
Policy on communication and contact with Shareholders, Institutional Investors and Proxy Advisors
In 2017, Lar España approved its policy on communication and contact with shareholders, institutional investors and proxy advisors with the aim of generating confidence and transparency vis-a-vis Spanish and international shareholders and investors. During 2018 this policy has been reviewed. It outlines the analytical procedures and develops the main tools, channels and reporting mechanisms vis-a-vis shareholders, investors, proxy advisors and other stakeholders.
Board of Directors
The Board of Directors is the management body with sovereignty over the company’s management, except in relation to the matters reserved to the shareholders in general meeting.
Composition
Lar España’s Board of Directors is made up of seven directors: five are independent and two, proprietary, from PIMCO and Grupo Lar.
Powers and activities
In its capacity as the highest governance body, Board’s duties include supervising the company’s management with the goal of upholding the organisation’s corporate interest. The Board has two steering committees, endowed with supervisory and control powers: the Audit and Control Committee and the Appointments and Remuneration Committee, in keeping with the company’s internal corporate governance rules, applicable legislation and best practices in the field.
Director Selection Policy
Lar España has a director selection and appointment policy which was approved by the Board of Directors on 20 January 2016. It is designed to foster boardroom diversity in terms of knowledge and skills, experience and gender
Director Remuneration Policy
Lar España Remuneration Policy was approved by the General Shareholders Meeting in 2018, which substitutes the original policy introduced in 2015. The current policy determines how much the directors of Lar España are paid in their capacity as such within the scope of the remuneration regime provided for in the Bylaws.