Corporate Governance System
Iberdrola, S.A. maintains a continuously updated Corporate Governance System [PDF], which is the set of documents made up of the By-Laws, the Corporate Policies, the Internal Corporate Governance Rules and Other Internal Codes and Procedures approved by the appropriate bodies of Iberdrola, S.A.. Such System has been developed taking into account the good governance recommendations generally recognized in international markets.
The development, revision and ongoing improvement of corporate governance regulations is part of the strategy that Iberdrola, S.A. and the companies belonging to the group of companies of which Iberdrola, S. A., is the controlling entity, within the meaning established by law (the “Group”), have been following for years.
According to the system of corporate governance, it is necessary to maintain proper separation between the functions of management and supervision within Iberdrola, S.A. and of the group, as well as, between the central role of strategy and decentralized executive responsibilities.
Iberdrola Energy Holdings is a holding company with executive responsibilities dealing with the ordinary direction and effective management of the business of its group of companies. The business affairs of the Company are managed under the direction of its Board of Managers and of its governing bodies. In carrying out these responsibilities and exercising its decision-making authority, Iberdrola Energy Holdings abides by the principles of its Corporate Policies, Internal Corporate Governance Rules and Other Internal Codes and Procedures that make up its corporate governance, and the standard rules for developing or supplementing it.