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Company Management

Corporate Governance of CORTICEIRA AMORIM

Corporate governance best practices are a structural pillar of the principles and model of sustainable management of CORTICEIRA AMORIM.

In matters of corporate governance, CORTICEIRA AMORIM is subject to the provisions of the current Portuguese legislation as set out in the Portuguese Companies Act (PCA) (Código das Sociedades Comerciais), the Portuguese Securities Code and the regulations issued by Portugal's Security Market Commission (CMVM), its own articles of association and the 2010 Corporate Governance Code issued by the CMVM.

CORTICEIRA AMORIM has adopted a system of corporate governance that is based on the separation of the management and supervisory bodies, the latter performed by a Supervisory Board and a Statutory Auditor.

The Board of Directors of CORTICEIRA AMORIM is the body responsible for the company's business activities and the strategic decisions. It is composed of three non-executive members and three executive members, and also includes an Advisor, a position created in 2001 and occupied since then by Américo Ferreira de Amorim and, since 2012, by Joaquim Ferreira de Amorim.

The Supervisory Board is responsible for receiving and processing reports of irregularities submitted by shareholders, employees and other persons or entities. This body is composed of independent members to ensure the impartial analysis and handling of reported irregularities.

Although the Board of Directors does not include any independent non-executive member as recommended by the Corporate Governance Code, the Company believes that the existence of an effectively implemented dual system of supervision - a supervisory board and a statutory auditor - whose members are all independent, ensures that the conditions necessary to provide an effective supervisory function with a high degree of impartiality, accuracy and independence are in place.