Corporate governance is the set of principles representing the fundamentals of the administration framework thorough which the company is led and controlled. Throughout internal documents and procedures, these principles help in determining the efficiency and efficacy of the control mechanisms adopted in order to protect and align all the stakeholders’ interests – shareholders, directors, managers, heads of various departments, employees and organisations representing their interests, customers and business partners, suppliers, central and local authorities, regulators and capital markets operators etc.
Electrica’s Corporate Governance Code includes the main work methods, roles and responsibilities of the managing and supervision company structures, as well as of the committees established to provide support for the previously mentioned structures in fulfilling their responsibilities.
The Code’s Provisions are aligned with the national law, the corporate governance principles set by Bucharest Stock Exchange (BSE) for the listed companies, as well as with the best practices in the field.
On December 14th , 2015, Electrica’s Ordinary General Meeting of Shareholders elected the new Board made up of seven members, four of whom are independent and non-executive.