The Company obtains this award as one of the European companies in the Utilities sector with best corporate governance practices during the 2015-2016 period.
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Red Eléctrica Corporación has been distinguished as the company with the best corporate governance in the Utilities sector in Europe and Africa; an award granted by the British ‘Ethical Boardroom’ specialized magazine, that annually evaluates the best practices in this field.
The Ethical Boardroom Awards recognize listed companies that have shown exceptional leadership in the area of corporate governance. They highlight the relevant role played by this framework of rules and practices in dictating the success of a company and the contribution of the Board of Directors to the creation of long-term value for all shareholders.
The study on the governance of companies focuses on four pillars: Board Composition, Board Committees, Shareholders' Rights and Transparency. Both internal and external research teams conduct an exhaustive analysis of 120 governance factors which, in turn, is backed by a strong set of key performance indicators.
As for the 2015-2016 period, Red Eléctrica has stood out for such significant actions as the separation of the positions of Chairman and CEO, and the generation of leadership in the IBEX 35 regarding gender diversity on the Board of Directors.
Additionally, the following practices were also recognised: the remuneration policy of board members and the annual remuneration report, submitted to the General Meeting; the transparency, moderation and alignment between the remuneration practices of board members and the interests of shareholders; the Company’s ongoing commitment to its stakeholders and, in particular, to shareholders, and the improvement of corporate governance information on the company's website.