Transparency and efficiency: key factors in our governance model
The goal of our good governance practices is to safeguard our stakeholders' long-term interest and guarantee group sustainability.
We are committed to best corporate governance practices
At DOMINION we pursue the good corporate governance practices set out in those laws and regulations that apply to companies listed on the Spanish stock exchange. Aside from the Corporate Governance Code, the main regulations are the Spanish Corporations Act, the Securities Market Act, the Market Abuse Regulation, the rules and regulations issued by the Financial Supervisory Authority (CNMV) and the rules and instructions for listed companies issued by the Madrid Stock Exchange (BME).
Our governance standards are laid out in the company's articles of association. To guarantee the smooth operation of the system, DOMINION has adopted a Sustainability Policy which focuses on the development of, compliance with, improvement of and continuous review of the Company's Articles of Association, Regulations and in-house standards.
As a listed company, we also have an in-house code of conduct for matters relating to the Stock Market. This governs the rules of conduct to be respected by the company, its administrative boards, employees and representatives in their actions relating to the stock market, pursuant to the provisions of Royal Decree 1333/2005, of 11 November, which implements the Securities Market Act (LMV), regarding market abuse.
DOMINION’s principal governing bodies are the General Shareholders’ Meeting, the Board of Directors and the Management Committee. We meet the recommendations set out in the Code of Corporate Governance issued by the CNMV regarding these matters. Pursuant to current standards, we issue the Annual Corporate Governance Report (ACGR) and the Board Remuneration Report (BRR) every year.
Our Corporate Governance goals lie in meeting the strictest international Good Governance standards.
- Two new female board members: 27% women in the Board of Directors.
- Separation and transparency: Among the roles of Chairman and CEO.
- Reduction of Board Members: We have reduced the number of board members from 12 to 11.
- Independent board members: Greater presence of these including a new coordinating member.
Good tax practices
DOMINION's activity contributes to the economic dynamism of communities where we operate by paying taxes, creating jobs and hiring suppliers.
Our Code of Conduct and Tax Policy stress the importance of meeting tax obligations in accordance with current legislation. These standards specifically prohibit tax avoidance or receiving illicit profit at the expense of the Tax authorities or Social Security.