Members of the Board of Directors

The Shareholders' Meeting held on 30 March 2007 adopted the resolution to modify the Articles of Association in order to bring the minimum number of Board members into line with the recommendations of the Unified Code of Good Governance.

Therefore, in accordance with the Articles of Association, the Board is formed by a minimum of five (5) and a maximum of fifteen (15) members. It had eleven members during 2007, although from July onwards the number of Board members was ten (10).

The Articles of Association and the Regulations establish that the Board of Directors shall strive to ensure that external or non-executive Directors represent a broad majority of the Board. The Board must also strive to ensure that the majority group of external Directors includes Proprietary Directors and Independent Directors, with a significant proportion of the latter. Independent Directors shall, as also approved in 2007, make up at least one third of the total number of Board Members.

The only variation experienced in the composition of the Board of Directors of Ferrovial, S.A. was the resignation of Fernando del Pino y Calvo-Sotelo, who notified his resignation in a document stating that this was due to his split, in economic terms, from the "family group" that indirectly controls the share capital of Grupo Ferrovial, S.A.

In short, the Board of Directors of Grupo Ferrovial, S.A., at 31 December 2007, is formed by the following Directors: 

Board of Directors of Grupo Ferrovial 

Each Director's status, based on the definitions contained in the Board Regulations, is indicated beside his/her name, respecting the meaning provided for each one by the Unified Code of Good Governance.

The following table shows the percentage that each category of Directors represents on the total of its members. Once again in accordance with the provisions of the UCGG, Directors who perform executive functions simultaneously and represent a significant stakeholder represented on the Board have been considered to be Executive Directors:

Executive Directors

The Board Regulations establish that on the occasion of the drafting and approval of the Annual Governance Report and, after verification by the Nomination and Remuneration Committee, the status attributed to the Directors shall be confirmed or, where appropriate, reviewed. This verification having been carried out, no reviews have been carried out on the status of any of them.

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