Meridiano S.A. Compañía Española de Seguros (Meridiano) has an Audit Committee that discharges the duties established in Article 529 quaterdecies of the Corporate Enterprises Act. The Committee is made up of two members appointed by the Board of Directors of the Company, one of whom is independent and the other non-executive, who respectively hold the positions of Chairman and Secretary of the Committee. In compliance with the legal requirement that the majority of directors of the Committee must be independent, the Chairman shall have the casting vote for all kinds of issues in order to resolve any ties that may arise in voting within the Committee.
The composition of the Committee has been established in accordance with the criterion of the National Securities Market Commission, set forth in its letter of 31 May 2016, in response to the letter from the insurance company, UNESPA, dated 18 May 2016.
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