Report the process for delegating authority for economic, environmental and social topics
from the highest governance body to senior executives and other employees.
The Company proceeded with allocating administrative responsibilities between the Executive Chairman, the CEO and Deputy CEO as follows:
The Chairman of the BoD and Managing Director is the Company’s top executive, is the legal representative of the Company. and in addition to the responsibility for convening, chairing, conducting meetings, observing the minutes and signing of the relevant decisions and the general operation of the BoD provided for by the Company’s Articles of Association and the law, is responsible for:
- Refineries General Directorate
- The General Department of Supply and Sales of Petroleum Products
- The Department of International Trade
- The Legal Division of the Group Legal Services.
- The Directorate-General for Human Resources and Administrative Services of the Group
- The Group’s Corporate Relations Division.
- The Department of Hygiene, Safety, Environment and Sustainable Development
- ASPROFOS SA
The Deputy Chief Executive Officer and the Group’s Internal Audit Directorate are referred to the Chairman & Managing Director.
The Deputy Managing Director replaces the Chairman and Chief Executive Officer in case of absence or impediment and is responsible for:
- the Group’s Financial Services Directorate-General and the Financial Directorates of the Group’s companies
- the Strategic Planning & New Activities Division of the Group
- the Group Purchasing Directorate
- the Department of Informatics and Group Systems
The Group Executive Committee is advisory, recommendatory and executive, to the extent that it is given specific executive powers by the Board of Directors. It processes and defines strategic issues in all of the Group’s business areas and the Group’s subsidiaries domestically and abroad.
Senior executive meetings define sustainable development issues and agree on the hierarchy of objectives, subsequent activities and reporting of results. Sustainability represents a percentage of executives and employees’ daily activities; for example, it is used as a parameter in regular working discussions and performance assessments, thereby making its implementation a shared responsibility across all levels of the Group’s hierarchy.
The submission of sustainable development issues to the Board of Directors takes place when the relevant memorandum drafted by the relevant General Division Manager is submitted to the Chairman of the Board and CEO or Deputy CEO, as is deemed appropriate, so that such issues can be proposed accordingly to the Board of Directors. If the matter falls within the competence of one of the BoD Committees, it is examined by the Committees, which make the relevant suggestion to the Board of Directors.