Remuneration Committee

Powers and operation

The Remuneration Committee fixes the remuneration of the members of the corporate bodies, in accordance with the mandate of the General Meeting.

The Remuneration Committee ensures annually the executive directors´ performance independent evaluation, consulting with the non-executive members regarding the qualitative performance of the executives, whilst the quantitative evaluation is based on the fulfilment of economic, financial and operational objectives, as defined annually by the Remuneration Policy. 

The Remuneration Committee consists of three shareholders elected by the General Shareholders Meeting on April 16, 2015, for the four-year term.

The current members of the Remuneration Committee are independent of the executive members of the Board of Directors of the Company in accordance with Article 8 of the By-laws which stipulates that those positions are incompatible.

In 2017, the Remuneration Committee held three meetings, represented by 100% of stake.