1. Economic Dimension
  2. Good governance
  3. Volver

Ferrovial

Ferrovial - Integrated annual report 2013 / Good governance

Ferrovial’s corporate governance is underpinned by three key values: efficiency, integrity and transparency. All three are essential for building trust, managing possible risks and generating increasing value for shareholders.

The following elements of Ferrovial’s corporate governance are worth highlighting:

  • The Board of Directors is made up of 12 members, of whom half are independent, including a Lead Director, who makes an essential contribution to the Board’s operation by channeling the concerns expressed by the External Directors.
  • The Directors are re-elected every three years, compared rather than the maximum of six prescribed by law. This enables shareholders to validate their management more frequently.
  • The Nomination and Remuneration Committee is made up exclusively of independent Directors and, as in the case of the Audit and Control Commission, there are no executive Directors.
  • The Audit and Control Commission oversees the preparation of the financial information, as well as the effectiveness of Company’s internal control systems, among other functions. Ferrovial voluntarily draws up a report with the results of the activities carried out by this Commission, which is included in the management report, so that shareholders can judge the value it creates.
  • Ferrovial regularly analyzes national and international good governance best practices and regulations and assesses their incorporation into its processes. Specifically, in 2013 there was a significant increase in the amount and quality of the information made available to investors.
  • In addition, Ferrovial submits to its Annual General Meeting, on a non-binding basis, an Annual Board of Directors’ Remuneration Report which contains the individual remuneration of each of the Board members, as well as clear and comprehensible information on the Company’s remuneration policy for the current and following years.

Lastly, the Board of Directors is responsible for approving Ferrovial’s Corporate Responsibility policy.