Aciturri Aeronáutica, S.L.U. and Alestis Aerospace, S.L. have retained independent Boards of Directors during the 2023 financial year.
The Board of Directors for both organizations is the highest administrative and representative body of each company, under the provisions of the Law and the company's articles of association. It is basically configured as a supervisory and control body. However, each of the two companies' Board Regulations establishes the Board's competence to rule on some issues, such as the approval of the annual budget, management objectives and the determination of the organization's general policies and strategies, which expressly include the corporate governance system/policy.
The Directors of both companies have declared that they are not engaged in any activities for their account or on behalf of third parties involving effective competition, whether actual or potential, with the company or otherwise placing them in permanent conflict with the company's interests. However, some directors have exempted certain activities with group companies1 from this declaration, given that some directors also hold the position of director in these companies or because the beneficiary of the acts is a person related to the director. Aciturri's and Alestis' General Meetings granted these directors a waiver under article 230.3 of the LSC because no damage to the organization could be expected, and this is purely positional competence.
