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Annual report and accounts 2016

164 Spanish corporate

164 Spanish corporate governance report continued List the reasons why these cannot be considered proprietary or external independent directors and detail their relationships with the company, its executives or shareholders. Name or corporate name of director Reasons Company, executive or shareholder with whom the relationship is maintained - - – List any changes in the category of each director which have occurred during the year. Name or corporate name of director Date of change Previous category Current category Antonio Vázquez January 21, 2016 Other external Independent C.1.4 Complete the following table on the number of female directors at the end of the last four years and their category. Number of female directors % of total directors of each category Year t Year t-1 Year t-2 Year t-3 Year t Year t-1 Year t-2 Year t-3 Executive 0 0 0 0 0 0 0 0 Proprietary 0 0 0 0 0 0 0 0 External independent 3 3 3 2 30.00 33.33 30.00 22.22 Other non-executive 0 0 0 0 0 0 0 0 Total 3 3 3 2 25.00 25.00 23.08 14.29 C.1.5 Explain the measures, if applicable, which have been adopted to ensure that there is a sufficient number of female directors on the board to guarantee an even balance between men and women. Explanation of measures Following the new Spanish corporate governance code recommendation, the Board approved on January 2016 a Directors Selection and Diversity policy which superseded the former IAG Board Diversity policy. The objective of this Policy is to ensure that the appointments of directors are based on a prior analysis of the Board’s needs and favour a diversity of knowledge, experience and gender. This Policy incorporates the former IAG diversity principles while regulating the process for appointing directors. Under this Policy, director appointments are evaluated against the existing balance of skills, knowledge and experience on the Board, with directors asked to be mindful of diversity, inclusiveness and meritocracy considerations when examining nominations to the Board. The Board recognises the value of diversity as a tool to enrich its discussions and decision-making process. Consequently, it is the Board’s objective to create a board whose composition ensures a healthy diversity of opinions, perspectives, skills, experiences, backgrounds and orientations. Specifically, this will include an appropriate gender ratio, as well as including diversity in other senses, subject to the overriding principle of merit and suitability mentioned above. This will be achieved over time, taking account of the valuable knowledge and experience of the present board members and the value of a more diverse Board. Accordingly, the Directors Selection and Diversity Policy establishes a new female representation objective of 33 per cent for 2020 following the recommendation included in the final Davies report published in the UK and exceeding the 30 per cent recommended in the Spanish Good Governance Code for Listed Companies. The Board, through its Nominations Committee, regularly reviews the percentage of women that sit on the Board and on the Company’s Management Committee, as well as the number of women in the Group’s workforce worldwide. The IAG Board and Management Committee continue to focus on this important area. The Nominations Committee leads the process for Board appointments. It evaluates the balance of skills, experience, independence, diversity and knowledge on the Board and, in the light of this evaluation, considers the role and capabilities required for a particular appointment. This evaluation will be made alongside succession plans for directors and takes into consideration any conclusions from the annual review of Board performance. As further detailed in the following section, the Directors Selection and Diversity Policy states the Company’s intention only to engage, so far as practicable, search firms which have signed up to the latest UK Voluntary Code of Conduct for Executive Search Firms (or its international equivalent). This is a voluntary code of conduct to address gender diversity on corporate boards and best practice for the related search processes. The code lays out steps for search firms to follow across the search process, from accepting a brief through to final induction. INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016

165 When reviewing board appointments, the Board’s Policy is to consider candidates from a wide variety of backgrounds, without discrimination based on gender, race, colour, age, social class, beliefs, religion, sexual orientation, disability or other factors. It is the Nominations Committee’s intention to reconcile the achievement of this objective while preserving the general diversity and merit based appointment principles established in IAG’s policy. IAG’s Directors Selection and Diversity Policy is published on the Company’s website. C.1.6 Explain the measures taken, if applicable, by the nomination committee to ensure that the selection processes are not subject to implicit bias that would make it difficult to select female directors, and whether the company makes a conscious effort to search for female candidates who have the required profile. Explanation of measures As previously stated, the Nominations Committee leads the process for Board appointments. It evaluates the balance of skills, experience, independence, diversity and knowledge in the Board and, in the light of this evaluation, considers the role and capabilities required for a particular appointment. The appointment of new directors is made in accordance with a formal, rigorous and transparent process. An overriding principle is that all appointments to the Board will be based upon merit and suitability of the candidate to the particular role being filled. As stated in the Directors Selection and Diversity Policy, it is the Board’s objective to create a board whose composition ensures a healthy diversity of opinions, perspectives, skills, experiences, backgrounds and orientations. Specifically, this includes an appropriate gender ratio, as well as including diversity in other senses, subject to the overriding principle of merit and suitability mentioned above. In support of this Policy and, particularly, of the gender ratio objective, IAG has stated that, when conducting a search for a new board member, so far as practicable, it intends only to engage search consultants who have signed up to the UK Voluntary Code of Conduct on gender diversity for executive search firms or an international equivalent. As previously explained, this is a voluntary code of conduct to address gender diversity on corporate boards and best practice for the related search processes, which lays out steps for search firms to follow across the search process. According to this code, when taking a specific brief, search firms should look at overall board composition and, in the context of the board’s agreed aspirational goals on gender balance and diversity more broadly, explore with the Chairman if recruiting women directors is a priority on this occasion. In addition, when presenting their longlists, search firms should try to ensure that at least 30 per cent of the candidates are women – and, if not, should explicitly justify to the client why they are convinced that there are no other qualified female options, through demonstrating the scope and rigour of their research. Search firms should seek to ensure that the shortlist is appropriately reflective of the longlist, discussing with their clients each woman on the longlist and aiming to have at least one woman whom they would ‘strongly recommend’ that the client should meet. Finally, search firms who are signatories to this code should seek to broaden their own databases of potential candidates, and are encouraged to invest time into developing relationships with the pipeline of future female candidates. This code has been signed up to by over 70 search firms, who collectively account for the vast majority of the board work in the UK. All have committed to following the code’s provisions in their board search processes, irrespective of sector, company and organisation and to ensuring that all provisions of the code are embedded in their day to day practices. In parallel, when a selection process is carried out, the Company informs the selected search firm of its policies and objectives regarding diversity. It also ensures that longlist include an adequate number of female candidates. Strategic Report Corporate Governance Financial Statements Additional Information When, despite the measures taken, there are few or no female directors, explain the reasons. Explanation – www.iairgroup.com

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