4.1.2. Functioning of the Board of Directors
In 2016, the Board held eight meetings. Attendance by each director is provided in the chart in section 4.1.1. Structure and composition!
During 2016, the Board of Directors’ main areas of discussion, review and decisions were: the annual review of the Group strategy, the review of the strategic projects (acquisitions, divestments, capital expenditures, etc.), the approval of the quarterly financial statements and dividend proposal to the AGM, the quarterly financial reporting, the reports of the Board Committees, the Corporate Governance, the corporate social responsibility and the sustainability policy, the risk management, the compensation policy and the long-term incentive plan, the Board and management succession planning, intragroup restructurings, and the reports and resolution proposals to the General Meeting.
There were no transactions or contractual relationships in 2016 between the Group and its Board members giving rise to conflicts of interests.