OHL renews its leadership in Corporate Governance
October 2, 2014
The Spanish Securities Market Commission (CNMV) has published its Annual Corporate Governance Report on Ibex 35 companies during 2013 and, in line with the results of previous years, it indicates that OHL still holds a leading position in good governance amongst the 35 main companies listed on the Spanish stock exchange.
OHL’s position is reflected in the following data of the CNMV Report for 2013 and previous years. First, it belongs to an exclusive nine-company group that in 2013 declared 100% compliance with the recommendations of the Unified Code of Good Governance for listed companies. Banco Santander, Bankia, Bankinter, DIA, Gamesa, Indra, Red Eléctrica Española and Viscofán are the other members of this group.
Second, past annual reports of the CNMV indicate that OHL is the only company to have fulfilled, year after year, all applicable recommendations of the Code over the five-year period 2009-2013.
The CNMV document is based on a review of the annual Corporate Governance reports forwarded by member companies of the Ibex 35 in late 2013, which are obliged to publish and distribute this report as a relevant event, describing their level of compliance with the recommendations of the Unified Code of Good Governance for listed companies.
OHL is still at the forefront in these matters, in a scenario where application of the Code by Ibex 35 companies is greater each year. Thus, on average, in 2013 these companies followed 93.7% of its recommendations, over 91.6% in 2012. This degree of compliance reaches 100% in nine companies, over five in 2012. All companies in this select stock exchange group declared their fulfillment of more than 75% of applicable recommendations, and 26 of these exceeded 90%. Furthermore, 65.7% declared to have followed a higher percentage of recommendations than in 2012.