For information on directors ownership of the Company´s shares, please click here.
Galp´s Board of Directors has 5 executive and 12 non-executive members, out of which five are independent directors, including one vice-chairman. Out of 12 non-executive directors, 3 are women, including the Chairman. Out of 5 executive directors, one is woman.
In accordance with the Portuguese Institute of Corporate Governance´s Code, adopted by the Company, the members of the Board of Directors are considered independent if they are not related with any specific interest group in the Company and are not in any situation that might affect their impartiality of analysis or decision-making, in particular because they:
i. having carried out functions in any of the company’s bodies for more than twelve years, either on a consecutive or non-consecutive basis;
ii. having been a prior staff member of the company or of a company which is considered to be in a controlling or group relationship with the company in the last three years;
iii. having, in the last three years, provided services or established a significant business relationship with the company or a company which is considered to be in a controlling or group relationship, either directly or as a shareholder, director, manager or officer of the legal person;
iv. having been a beneficiary of remuneration paid by the company or by a company which is considered to be in a controlling or group relationship other than the remuneration resulting from the exercise of a director’s duties;
v. having lived in a non-marital partnership or having been the spouse, relative or any first degree next of kin up to and including the third degree of collateral affinity of company directors or of natural persons who are direct or indirect holders of qualifying holdings, or
vi. having been a qualified holder or representative of a shareholder of qualifying holding.
Given the criteria for determining the independence of the nonexecutive members of the Board of Directors mentioned above, the Board of Directors includes the following five independent directors, based on its self-assessment for the 2020 financial year performed at the meeting held on 19 February 2021:
- Miguel Athayde Marques (Lead)
- Luís Todo Bom
- Edmar de Almeida
- Cristina Fonseca
- Adolfo Mesquita Nunes
The members of the Board of Directors have acknowledged skills, academic backgrounds and professional experience, considering the activities pursued by the Company and the strategy defined for the coming years. For information on directors‘ knowledge and experience diversity, please see on Galp´s Corporate Governance Report 2020 the systematised representation of the skills, their biografies and the positions held on other companies.
The Diversity Policy of the Board of Directors and Audit Board, approved by the Board of Directors can be seen here.