Boards of Directors

Particular Rules for the Board of Directors

Article 7:  In order to avoid real or apparent conflicts of interest, the members of the Board of Directors may not hold for themselves, nor by any person, any contract with Institutions or enterprises linked with it, as well as they may not undertake negotiations during their term.

For the purposes of this article, there are conflicts of interest when an officer has more than thirty-three percent (33%) of participation in a company that seeks to contract with the Institution.

This prohibition extends until two years after the expiration of the management period.ón.

Article 8: The Nomination Authority must inform the Board of Directors the cases in which a negotiation or contract may produce conflicts of interest, real or apparent, in relation to a member of the Board.

Article 9: When the Board of Directors approaches a matter or situation in which any Director may have a financial interest, this Director must be declared disabled to participate in the correspondent debate.

Article 10: It is prohibited to members of the Board of Directors to:

  1. Request, induce or intervene in the administrative Management in order to ensure a personal profit for their spouse, relative or third parties.
  2. Any individual action that is intended to streamline, delay, omit, influence or incline, for or against someone, a process or Administrative decision.
  3. Any other action, be it verbal or written, whose object is to interfere so that a proper act of Administration is not done, or procure an act contrary to its duties.
  4. Use, for their own or third parties benefit, the information or reserved data known by reason of their position.

Article 11: The directors may only be candidates for elected positions if they resign their office at least six (6) months prior to the date of the election.

Article 12: The prohibitions and limitations of this chapter are without prejudice of the application of the other rules of conduct of this regulation in which they are relevant and do not contravene the particular standards established herein.

Members of the Board of Directors

The Board of Directors shall meet regularly (2) twice a year, in the dates determined by it and also whenever it is convened by its President, on his/her own initiative, or at the request of two (2) or more Directors or the Manager of the Institution.

MEMBERS

The Ministry of Trade and Industry, or in its absence, the Vice Minister, who presides it.

The Minister of Economy and Finance, or in his/her absence, the Vice Minister.

The Minister of the Presidency, or in his/her absence, the Vice Minister.

The members of the Executive Committee of the Board of Directors or their Substitutes.

The Comptroller General of the Republic or in his/her absence, the Sub Comptroller may attend with right to speak  at all the sections of the Board of Directors or the Executive Committee.

GOVERNMENT SECTOR

Nombre principal Puesto
AUGUSTO AROSEMENA MORENO MINISTER OF COMMERCE AND INDUSTRIES
ÁLVARO ALEMÁN MINISTER OF THE PRESIDENCY
DULCIDIO DE LA GUARDIA MINISTER OF ECONOMY AND FINANCE
FEDERICO HUMBERT COMPTROLLER GENERAL OF THE REPUBLIC

PRIVATE SECTOR

Principal name Substitute name
ERASMO ORILLAC CHARLES CHREIM
TAREK YAAFAR GABRIEL SETTON
NIDAL HACHEM AHMED ELNESSER KADRI
MICHAEL HARARI ART TIK FUNG
CARLOS CASTILLERO GIOVANNI FERRARI