The Board of Directors has implemented a formal procedure that is in effect:
i. To detect and reduce organizational, social or culture barriers that could be inhibiting the skills, conditions, experiences and visions that, without those barriers, would have occurred naturally in the organization.
Explanation: The Company does not adopt this practice due to being an investment company with only 4 employees.
|
NO |
ii. To identify the diversity of skills, conditions, experiences and visions that its senior executives should possess.
Explanation: The Company does not adopt this practice. In any event, to be clear the contracting and/or internal promotion of such senior executives is based on merit and competence, without procedures that give preference to the contracting of one over the other.
|
NO |
iii. To identify among the company's employees, potential replacements of the CEO and other senior executives, in carrying out the identification process described in number ii above.
Explanation: The Company does not adopt this practice due to being an investment company with only 4 employees. In any case, it does have a replacement process for upper management.
|
NO |
iv. To replace the CEO and other senior executives in a timely manner, and transfer their functions and relevant information in the face of their pending absence, minimizing the impact it would have on the organization.
Explanation: The Company adopts this practice, given that in the event of a permanent or imminent absence of the CEO, the Board of Directors may contract the services of a head hunter or other firm that offers similar services, or opt to directly contract the replacement, having to consider in a special manner the technical suitability, educational level, experience and/or any other relevant factor regarding the person who will supply the vacancy.
In the event of the permanent or imminent absence of a senior executive, the CEO should seek the prompt hiring of a replacement according to the same criteria established for the replacement of the CEO.
In both cases it shall be ensured that the outgoing executive submits a report of all pending matters that were under its care, indicating the status of each one, the associated risks, the people that are working on the matter and the recommended steps to follow. In the case of the CEO, they shall deliver to the president of the Board of Directors, while in the case of other senior executives delivery shall be to the CEO.
|
YES |
v. In that the detection referred to in numbers i and ii above is performed at least annually.
Explanation: The Company does not adopt this practice due to being an investment company with only 4 employees. In any event, on an ongoing basis the Company identifies the diversity of skills, knowledge, conditions, experiences and visions its senior executives should possess.
|
NO |
