3. Committees established by the Board of Directors
The Board has established the following internal Committees with consultative and advisory duties, pursuant to the Code of Corporate Governance and to Article 16 of the Bylaws:
- Compensation Committee;
- Appointments Committee;
- Control, Risk and Related-Party Transactions Committee; and
- Sustainability Committee.
In the performance of their functions, the Committees may access information and company functions. They have sufficient financial resources and may use external consultants within the terms set by the Board of Directors28.
Non-Committee members may attend Committee meetings if asked to do so to provide information on agenda items. The respective Secretaries take the minutes.
Pursuant to Criterion 4.C.1, letter d) of the Code of Corporate Governance, the Committee Regulations stipulate that, after every Committee meeting, the Chairperson shall update the Board of Directors by means of communication, at the next meeting, on the matters addressed and the observations, recommendations and opinions expressed.
28 The composition, duties and functioning of the Committees are governed by the Board under special regulations, which can be consulted under the “Governance and Conduct” section of the Company’s Website, pursuant to the criteria set out by the Code.