Page 29 - Minerva Foods | Annual Report 2017

Governance
structure
102-18
At the center of the corporate governance struc- ture at Minerva Foods is the Board of Directors, which is aligned with the Risk Committee (a non-statutory body, responsible for limiting
the Company’s exposure to credit risks from customers and the market, through credit anal- yses and management of customer portfolios) and the Audit Committee. The two Executive Boards reporting directly to the CEO (Statutory and Non-Statutory Boards) are accountable to the Board of Directors.
See the GRI Appendix for a breakdown of the diversity figures for members of the corporate governance bodies and the proportion of upper management members hired from local communities.
The obligations and competencies of the Execu- tive Boards are to coordinate, administrate, man- age and supervise their executive and administra- tive duties, within their respective areas, aimed at guaranteeing that there are internal control mechanisms geared towards ensuring operational efficiency, appropriate management of Company activities and business and appropriate reporting of information that directly impacts and is related to the Company’s financial statements. Altogether, there are 31 members at every lev- el of corporate governance, most of which are men. In relation to age group, 54.84% are be- tween 30 and 50 years of age, with the remain- ing being over the age of 50.
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