The Executive Board of Directors is responsible for managing the company's activities, under the terms set out in the Commercial Companies Code and the Articles of Association, and is appointed by shareholders at the General Meeting.
As a rule, the Executive Board of Directors meets on a monthly basis, with the participation of all Directors, and may not deliberate unless the majority of its members are present.
Each Director may not represent more than one absent Director at each meeting. All Directors have equal voting rights, and the Chairman has a casting vote. The procedures of the Executive Board of Directors are governed by internal regulations.
The term of the current Executive Board of Directors began at the General Meeting of April 21, 2015, and runs, under the Articles of Association, for three years.