Management governance

Management governance Structure of the Management Board and the Supervisory Board Management approach CSR strategy
GRI:

The Budimex Group operates in compliance with top management standards and the implemented management systems are based on transparent decision-making processes. In the case of detection of irregularities, corrective measures are immediately taken. It notifies its stakeholders and entities interested in a given issue in a material and timely manner. In the case of drawing up any financial information, it also uses the software supporting the risk identification and management. In order to eliminate risks in the management area, the parent company of the Group – Budimex SA, whose shares are listed on the stock exchange, uses a set of corporate governance rules: "Best Practice for Companies Listed on the WSE 2016", adopted by the Management Board in December 2015. This set describes, among others, the principles of conducting the information and communication policy with investors, internal systems and functions, relations with shareholders. Budimex applies all rules contained in the set, excluding:

  • two-way real-time communication within which shareholders can express their opinions in the course of proceeding by the General Meeting, while staying somewhere else,
  • exercising their voting rights personally or through proxies in the course of proceeding by the General Meeting, while staying somewhere else.

Application of these rules could lead to technical risks, followed by legal risks, within the scope of proper organisation of the General Meeting. However, while willing to ensure the best communication with the shareholders, proceedings of the General Meeting are broadcast live. As a result, everybody has an unlimited access to information disclosed by the Company. Every year Budimex provides information on the application of recommendations and principles included in the set of Best Practices. As a listed company, it takes care of appropriate communication with investors and analysts, maintaining a transparent and effective information policy.