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BankiaDirector selection policy

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With a view to boosting transparency and the trust of Spanish and foreign shareholders and investors, Recommendation 14 of the new Good Governance Code of Listed Companies published by Spain’s National Securities Market Commission (CNMV) indicates that the boards of directors of listed companies should approve a director selection policy that: is concrete and verifiable; ensures that appointment or re-election proposals are based on a prior analysis of the board’s needs, including preparing a description of the skills and competencies needed to ensure there is sufficient specialist knowledge; and favours diversity of knowledge, experience and gender.

The Regulations of the Board of Directors of Bankia, S.A. (hereinafter, “Bankia” or “the Company”) also stipulate that the Board will approve a director selection policy that must set a goal of representation for the gender under-represented on the Board of Directors, and that the Company’s Appointments and Responsible Management Committee will annually verify compliance with the policy. In fulfilment of the aforesaid provision and adopting Recommendation 14 of the new Good Governance Code of Listed Companies (to promote the 2020 objective of having 30% of the Board of Directors comprising women), this Policy is therefore amended.

Pursuant to the aforesaid and as proposed by the Appointments and Responsible Management Committee, Bankia’s Board of Directors approved this Director Selection Policy (hereinafter, “the Policy”), which has been amended, at its meeting on 9 February 2017. The Policy forms part of Bankia’s Corporate Governance System.

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