Board of Directors
The Board is the Company's shareholding management structure, it is made up of nine main members with their respective deputies, elected by the General Shareholders Meeting.
Among its tasks, set administrative and steering policies of company businesses, authorize the President to delegate some functions as per the Company's bylaws, freely appoint and remove the President of the Company and summon to General Meeting when it deems appropriate, among others.
Rules of the Board of Directors
Current Members of the Board of Directors
* Member nominated by the 4 main minority shareholders of GEB in accordance with the provisions of the Shareholders'´ Agreement
Members of the Board of Directors (March 2019 – January 2020
Members of the Board of Directors (March 2018 – March 2019)
Audit and Risk Committee
The purpose of the Audit and Risk Committee of the Board of Directors is to ensure that Management complies with the established accounting procedures, to review the recommendations of the Statutory Auditor regarding the financial statements, to review the Control Architecture of the Company and the member companies of Grupo Energía Bogotá. It also oversees and assesses the Company’s Internal Control System, including risk analysis, to recommend and issue opinions to the Board of Directors, and also performs other duties assigned by law, the By-Laws and these Rules.
Additionally, the Audit and Risk Committee supervises fulfillment of the internal auditing program, which must take into consideration the business’s risks and fully evaluate all GEB areas. It also ensures that financial information is prepared, presented and disclosed in accordance with legal requirements.
Finance and Investment Committee
The purpose of the Board’s Finance and Investment Committee is to oversee the Company and Grupo Energía Bogotá’s financial management, and to review new business opportunities and redefine existing investments, in order to make specialized recommendations to the Board of Directors on such matters, as well as provide support in its decision-making duties in connection with the matters within the Committee’s purview.
Corporate Governance and Sustainability Committee
The objective of the Board of Directors’ Corporate Governance and Sustainability Committee (hereinafter the “Committee”) is to propose and supervise the compliance with the corporate governance measures and the sustainability approach adopted by the Company and the companies that are part of the Group.
The purpose of the Board’s Compensation Committee is to review and discuss all matters related to employee compensation, such as fixed and variable compensation, incentives and benefits, employer-employee relations and industrial relations, in order to provide specialized advice on such matters to the Board of Directors, as well as to support the Board of Directors in its decision-making or advisory role related to the appointment and compensation of the members of the Board of Directors and Senior Management.
Results of the Board of Directors’ Annual Evaluation