Executive committees

The Group Management Board established two working executive committees, each acting within its specific area of expertise.

The permanent executive committees of our Group Management Board are: the Group Executive Committee and the Country Executive Committee.

The Group Executive Committee is a standing committee of the Group Management Board.

The main purpose of the Group Executive Committee is to provide to the Group Management Board all necessary assistance, support and advice in order to streamline the decision-making process and prioritise issues to be handled by the Group Management Board.

In addition, the duties of the Group Executive Committee include the following matters:

• Participation in the implementation of internal policies on ethics, security, and human resources;
• Submitting recommendations to improve these policies;
• Advising the Group Management Board on best practices implemented locally, as well as on investments, general organization of the group;

Promoting the convergence and centralization of certain activities at the group level in order to reduce associated costs.

The Country Executive Committee is a standing committee of the Group Management Board.

The main purpose of the Country Executive Committee is to provide to the Group Management Board all necessary assistance, support and advice in order to streamline the decision-making process and prioritise issues to be handled by the Group Management Board.

In addition, the duties of the Country Executive Committee include the following matters:

• Participation in the preparation of the annual budget by country
• Assisting the Group Executive Committee in setting up the annual budget and monitor major investments, acquisitions, cash flows and financial activities at the local level
• Verifying compliance with local regulations, particularly in terms of safety, security, and social responsibility