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Board Committees

In accordance with the Regulations, the Board of Directors has established an Executive Committee which, by delegation of the Board, has general decision-making powers, and a Delegate Risk Committee, with specific delegated powers in this area.
 
Likewise, the Board has also established the following Committees: Audit, Appointments and Remuneration, Risk Supervision, Regulation and Compliance, International and Technology, Productivity and Quality. None of them has decision-making powers, but are exclusively to provide information, advice and proposals.
 
A separate mention ought to be made of the International Advisory Board (laid down by Article 18 of the Board Regulations), which is made up of important figures both from Spain and abroad who do not sit on the Board of Directors. For further information on its members and responsibilities, see article 18 of the Rules and Regulations of the Board of Directors.

Executive Comittee

Chairman
Mr. Emilio Botín

Members

  • Mr. Fernando de Asúa
  • Mr. Javier Marín Romano
  • Mr. Matías Rodríguez Inciarte
  • Ms. Ana P. Botín
  • Mr. Guillermo de la Dehesa
  • Mr. Rodrigo Echenique
  • Ms. Isabel Tocino

Secretary
Mr. Ignacio Benjumea

Functions
The executive committee is governed by Article 51 of the Company’s Bylaws and Article 14 of the Rules and Regulations of the Board. All the powers of the board of directors have been permanently delegated to the executive committee, except those which may not be legally delegated and the following:

  • Approval of the general policies and strategies of the Company, particularly:
  1. Strategic plans, management targets and annual budget;
  2. Dividend and treasury stock policy;
  3. General risk management policy;
  4. Corporate governance policy;
  5. Corporate social responsibility policy.
  • Approval of the policies for the provision of information to and for communication with the shareholders, the markets and the public opinion. The board assumes the duty to provide the markets with prompt, accurate and reliable information, especially in connection with the shareholding structure, any substantial amendments to the rules of governance, related party transactions of particular importance and treasury stock.
  • Control of management activities and evaluation of managers
  • And those of the board in relation to its composition and functioning, the remuneration and duties of directors, the contracting of technical advisors and board relations with shareholders, markets and the financial auditor.
 

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