SOCIAL RESPONSABILITY
AND SUSTAINABILITY
REPORT
2018
44
MAJOR DEVELOPMENTS DURING
THE YEAR
The main changes to the Board of Directors of PRISA
in 2017 were:
- Succession of the Executive Chairman: Last
October the Board of Directors initiated the
succession of the Executive Chairman, Juan
Luis Cebrián Echarri. After considering several
alternative candidates, the Board of Directors,
at the meeting held in December 2017, accepted
Juan Luis Cebrián Echarri’s resignation as a
director and Executive Chairman and appointed
Manuel Polanco Moreno – at that time an executive
and Deputy Chairman – as non-executive
Chairman of PRISA with effect from January
1, 2018.
- Succession of the CEO: In June 2017 Manuel Mirat
Santiago was appointed CEO, replacing José
Luis Sainz Diaz in the post, with effect from September
4, 2017. From January 1, 2018 and after the replacement
of the Chairman, Manuel Mirat has held
this post in his capacity as chief executive of PRISA.
- Reorganization of the Board of Directors:
Throughout the year 2017, the composition of
the Board of Directors has undergone reorganization,
with the departure of 9 directors and
the entry of 6 new directors, including the succession
of the CEO, all of which has also led
to a reconfiguration in the composition of all
committees of the Board. The succession of
the Chairman took effect from January 1, 2018.
In February 2018, the Board of Directors appointed
the independent director Javier Monzón de
Cáceres, as non-executive Deputy Chairman of
the Board.
This reorganization is linked to changes in the
Chairmanship of the Company and to capital operations
carried out in recent months.
INTRODUCTION
An ongoing review of company performance in
the area of corporate social responsibility informs
and guides all the work of the highest governing
bodies. This is in keeping with a strategy of sustainability
and of enhancing corporate reputation
– to the benefit not only of the shareholders and
investors, but also company employees, suppliers
and other stakeholders, all with a view to being a
socially responsible and sustainable company that
is accountable to society at large.
In late 2017, the Corporate Governance Committee
conducted a preliminary analysis of the corporate
governance framework of the Company,
which is set to be revised in 2018 to adapt to the
new circumstances of the Company (including the
Chairmanship of the Board) as well as to reorganize
the board committees and adapt their rules and
performance standards to the latest recommendations
and best practices in corporate governance.
Corporate governance
2017 Consolidated
Financial Statements
2017 Report Management
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2017 Corporate Governance
Annual Report
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