Annual Report 2010 - CMVM

Corporate Governance Report 2010II.2.5The company should explain its policy of rotation of the areas of responsibility within theBoard of Directors, namely of the person responsible for financial matters, and provide informationon this in the annual Corporate Governance Report.CHIEF EXECUTIVE OFFICER, EXECUTIVE COMMITTEE AND EXECUTIVE BOARD OF DI-RECTORSWhen requested by other members of the governing bodies, the Directors who performexecutive duties should provide, in due time and in a form appropriate to the request, anyinformation requested by them.The Chairman of the Executive Committee should send, respectively, to the Chairman of theBoard of Directors and, when applicable, the Chairman of the Supervisory Board or AuditCommittee, the call notices and minutes of the respective meetings.The Chairman of the Executive Board of Directors should send to the Chairman of the SupervisoryBoard and to the Chairman of the Financial Matters Committee the call notices andminutes of the respective meetings.GENERAL AND SUPERVISORY BOARD, FINANCIAL MATTERS COMMITTEE, AUDITCOMMITTEE AND SUPERVISORY BOARDThe General and Supervisory Board, in addition to performing the supervisory duties to whichit is committed, should also carry out an advisory role and ensure the follow-up and continuousassessment of the company's management by the Executive Board of Directors. Amongstthe matters on which the General and Supervisory Board should issue opinions, are the following:i) the definition of the general strategy and policy of the company;ii) the corporate structure of the group;iii) decisions which should be considered strategic due to their value, risk or special characteristics.The Annual Reports on the activity developed by the General and Supervisory Board, FinancialMatters Committee, Audit Committee and Supervisory Board should be disclosed on thecompany's website, together with the presentation of accounts.The Annual Reports on the activity developed by the General and Supervisory Board, FinancialMatters Committee, Audit Committee and Supervisory Board should include the descriptionof the supervisory activities developed referring to any constraints which have been encountered.The Financial Matters Committee, Audit Committee and Supervisory Board, according to theapplicable model, should represent the company, for all effects, before the external auditor,being responsible, namely, for proposing the provider of this service and its remuneration,ensuring the existence of the appropriate conditions for the provision of the services within thecompany, as well as being the spokesperson of the company and first receiver of the respectivereports.The Financial Matters Committee, Audit Committee and Supervisory Board, according to theapplicable model, should assess the external auditor on an annual basis and propose his/herdismissal to the General Meeting whenever there are fair grounds for the effect.NoII.11II.3II.3.1YesII.1II.3.2Not ApplicableII.13II.3.3Not ApplicableII.13II.4II.4.1Not ApplicableII.1II.4.2YesII.4II.4.3YesII.4II.4.4NoII.24II.4.5NoII.2467