In accordance with the Corporate Bylaws, the Company‘s administration is in charge of a Board of Directors and a General Director (Chief Executive Officer) that shall perform the duties established by the Securities Market Law (LMV). The Board of Directors shall be comprised of minimum (5) and maximum twenty one (21) regular directors, from which at least twenty five percent (25%) shall be independent directors. For each regular director the respective alternate director shall be appointed, it being understood that the alternate Directors of the independent Directors shall have this same nature. The members of the Board of Directors may be shareholders or persons outside the Company.
Independent Directors shall be those persons which are not impeded to perform their duties free from conflicts of interest and that satisfy the requirements set forth in the LMV to be considered as such, the provisions derived there from, and in the jurisdiction laws and regulations and stock exchanges or markets in which the Company‘s securities are traded, as the case may be.
The Board of Directors appointed and ratified during the General Extraordinary and Ordinary Shareholders‘ Meeting held on April 11, 2012, is comprised of eighteen (18) regular directors, which shall remain in their positions until the persons appointed to substitute them take possession. The following table shows the names of the members of the Board of Directors and the period during which they have acted as directors:
(1) The list is from the Board of Directors of GB approved by the shareholders meeting on the 17/04/2013.
(2) and Regular Secretary and Alternate Secretary of the Company and are not part of the Board of Directors.