The Executive Board of Directors is responsible for managing the company’s activities, pursuant to the Commercial Companies Code and the Articles of Association, and its members are appointed by the shareholders during a General Meeting.
As a general rule, the Executive Board of Directors meets once a month, with the participation of all Directors, and may not deliberate without the presence of the majority of its members. Each director may not represent more than one absentee director at each meeting. All Directors have equal voting rights, and the Chairman has a casting vote.
- To determine EDP’s and the EDP Group’s objectives and management policies;
- To prepare annual activity and financial plans;
- To manage the company’s business operations and to implement all acts and operations pertaining to the corporate purpose that do not fall within the scope of other corporate bodies;
- To represent the company in and out of court, as plaintiff or defendant, with the powers to waive, acquiesce or plead in any legal proceedings, as well as to enter arbitration agreements;
- To purchase, sell or otherwise dispose of or encumber rights or real estate;
- To establish companies and subscribe, acquire, encumber and dispose of corporate holdings;
- To deliberate on the issuance of bonds and other securities in accordance with the law and these Articles of Association, while respecting the annual quantitative limits determined by the General and Supervisory Board;
- To define EDP’s technical and administrative organization and internal operation rules, particularly regarding employees and their remuneration;
- To appoint representatives with the powers it deems appropriate, including delegation powers;
- To appoint the Company Secretary and his or her alternate;
- To hire and dismiss the External Auditor on the advice of the General and Supervisory Board;
- To perform other duties as assigned by law or the General Assembly.
The approval of EDP’s strategic plan, the establishment and termination of strategic partnerships and the implementation of significant value operations, among others, shall be subject to prior approval by the General and Supervisory Board.
The Chairman of the Executive Board is assigned specific powers, including:
- To represent the Executive Board of Directors in and out of court;
- To coordinate the activities of the Executive Board of Directors and to convene and chair its meetings;
- To exercise the casting vote;
- To ensure the proper implementation of the resolutions of the Board of Directors.
The Chairman of the Executive Board has the right to attend, whenever he deems appropriate, the meetings of the General and Supervisory Board, except when such meetings are convened to deliberate on the supervision of the activities of the Board of Directors and, as a general rule, in any situation of conflict of interest.
The current mandate began at the General Shareholders Meeting of 5 April 2018 and, according to the Articles of Association, has a duration of 3 years.
The Executive Board normally meets at least twice a month, and extraordinarily whenever it is convened by its Chairman, by any two other Directors, or at the request of the General and Supervisory Board.
EDP Management Team
Get to know the members of our Executive Board