Board of Directors’ Support Committees

One of the guarantors of our good governance are the Support Committees created to support and advise the Board in their decision-making. Their efforts and collaborative work with board members are the guiding light that defines our path.

Corporate governance and evaluation committee

The duties of the Good Governance and Assessment Committee shall primarily be those of supporting the Board of Directors in the following matters:

• Monitor and assure that shareholders, investors, other interest groups and the market in general have complete, true and timely access to relevant company information.
• Review and assess the manner how the Board of Directors complied with its duties during the period. The assessment must contemplate, among other aspects, the following: member attendance to meetings, active participation of members in decisions and follow-up made to the company’s primary matters.
• Monitor negotiations made by Board members with stock issued by the company and by other companies in the same group.
• Supervise compliance of the Board member compensation policy.
• Have knowledge of complaints filed by investors, and shareholders and other interest groups with regard to compliance of this code and transmitted in a timely fashion by the person in charge of the Online Shareholder and Investor Services Office.

Composition:

Last update: April 15, 2024

Auditing Committee

The Auditing Committee is a supporting committee for the Board of Directors, according to article 45 of Law 964 of 2005. The Auditing Committee has the following duties:

• Supervise compliance of the internal audit program, which shall consider the business risks and entirely evaluate all areas of the company.
  
• Insure that the preparation, presentation and disclosure of the financial information is in accordance to law.
• Review year-end financial statements, before submitting them to the Board of Directors and the General Shareholder Meeting.
• Issue a written report regarding the operations entered into with economic ties, having verified said operations were carried out in market conditions and not damaging equal treatment between shareholders.
• Establish policies and methods which the company will use when constructing, revealing and disclosing its financial information.
• Define mechanisms that the company will use to consolidate information stemming from company control bodies for submitting said information to the Board of Directors.
• Other duties assigned by the Board of Directors.

The Auditing Committee shall be composed by all independent members of the Board of Directors.

Last update: April 15, 2024

Find out more about the formation and functions of the Good Governance and Evaluation Committee and the Audit Committee here.