Governance Structure

 

PADICO HOLDING adheres to a strict governance structure, and remains in compliance with international standards and best practices. The company follows a best in class corporate governance framework for all its business entities. 

The Board of Directors at PADICO HOLDING is composed of 12 members who are charged with oversight of the company’s strategic direction, future outlook, and budget. They supervise all financial and investment decisions and all related policies and procedures. The Board executes its functions through various steering committees. To ensure transparency, the Board is organized into separate Executive and Audit & Governance Committees, in addition to several interim committees mandated to perform certain tasks at specific times. The Board held six meetings during 2015.

Our accounting system guarantees accountability for all shareholder assets; all our employees have an obligation to report truthfully and accurately, and to be certain that all payments are endorsed by legal documents. Moreover, an internal auditor is appointed to verify all financial statements to ensure that financial records have not been altered for any illegitimate reasons.

The company’s leadership makes decisions by way of majority vote, with the minimum share ownership of 100,000 per board member. Additionally, neither the chairman nor the other board members hold executive management positions with the company or any of its affiliates.

The restructuring process, completed in 2011, resulted in the formation of four principle holding companies. This has simplified our corporate structure, enhancing transparency and making it easier for us to implement governance procedures.
 

   

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