We are an Anonymous Stock Corporation, hence our Administrative Council is to be formed by a maximum of 21 members, of which 25% must be independents elected based of their experience, abilities, and their Reputation in the General Ordinary Shareholders Assembly.
According to the Stock Market Exchange Act and our social regulations, the functions of our Administrative Council are, among others, to invigilate the management and to establish general strategies to the direction of Grupo Lala’s business and that of the legal entities under its control. We hold Administrative Council Sessions in which the quorum exceeds 80%.
The activities established by the Auditing and Corporate Practices Committee, from their foundation are as follows:
Supervise external auditors, to communicate to the Board any irregularities in internal control, regulate the realization of operations between parties as well as the General Director’s activities and financial function and the elaboration of a yearly report.
Our Auditing and Corporate Practices Committee is integrated solely by independent members of the Administration Council.
Some other main functions and faculties of the Committee are: to formulate recommendations to the Council regarding performance of the main collaborators, operations with related parties, independent rulings, call shareholders assemblies and support the preparation of reports to Ordinary General Shareholders Assembly.
Moreover, from February of the present year, the Company has a Compensation Committee which carries out activities regarding Compensation and Assessment established by the Lala Auditing and Corporate Practices Committee and those determined by the Administration Council.
The Compensation Committee is formed by two independent council members and a board member.
Pablo Roberto González Guajardo – President
Juan Pablo del Valle Perochena – Member
Eduardo Tricio Haro – Member