Corporate governance structure 2020

In this structure, the Executive Board executes the guidelines set by the Board of Trustees and, for this purpose, has five directorates and six superintendencies. Due to the nature of its activities, the Internal Audit Superintendency reports to the Audit, Risks and Compliance Committee.

The Board of Trustees is the highest governance body and is responsible for decision-making on economic, environmental and social topics. In this decision-making process, the Board is supported by five Advisory Committees, made up of specialists in the relevant areas of expertise. The Board members do not have any other role in the organization other than participating in the Board of Trustees and the Advisory Committees.

The Advisory Committees are statutory governance bodies, of a permanent nature, without any executive functions, and they conduct their activities in Corporate governance structure accordance with Board resolutions and other internal policies, as well as the applicable legislation.