Corporate Governance

OTHER DOCUMENTS

In this section you will find documents related to Corporate Governance management.

Corporate Governance Code: In 2009 the company adopted the Corporate Governance Voluntary Code of the National Stock Exchange. For the year 2017 the company establishes its own Corporate Governance Code, which is mandatory for the organization and all its personnel. It establishes the system through which the company is managed under the principles of transparency, accountability and sustainability.

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Corporate Governance Code: In 2009 the company adopted the Corporate Governance Voluntary Code of the National Stock Exchange. For the year 2017 the company establishes its own Corporate Governance Code, which is mandatory for the organization and all its personnel. It establishes the system through which the company is managed under the principles of transparency, accountability and sustainability.

Code of Ethics: The Code of Ethics and Conduct governs the guidelines and actions that FIFCO expects from internal audiences that maintain a business relationship with the company; therefore, it applies to all subsidiaries, departments and collaborators and is shared with suppliers. An updated version of this code was launched in 2017.

Financial Statements: In order for investors and stakeholders to have access to the company’s financial information, FIFCO presents quarterly Interim Financial Statements and annually Audited Financial Statements.

FIFCO’s Objectives: FIFCO has a strategic map defined for the year 2020 guided by the “North Star” or main goal, where we want to “Enrich every beverage consumption occasion”.

Share Ownership: Currently, FIFCO does not issue shares to place in the stock market. To date, no shareholder, alone or through an intermediary, has more than 10% of the outstanding shares.

Transactions with related parties: Good Corporate Governance practices emphasize the proper management of entities, prevention and management of conflicts of interest, transparency and accountability; that is why FIFCO discloses in note 25 of the Financial Statements, the detail of transactions with related parties.

Relevant facts: Page 38 of the 2016 Integrated Report shows the relevant facts or main situations that have materialized or have positively or negatively affected the achievement of the business objectives.

Compensation policy: Compensation policies have been established according to the different levels of the organizational structure. At the Board of Directors level, only a per diem system has been established. At the Management level (Directors of strategic business units) and managers, the general compensation plan establishes a scheme composed mainly of base salary, medical and life insurance, and annual bonus for the achievement of objectives, in cash and in shares. The shares used in the performance-based compensation plan are purchased in the secondary market. This scheme works as a retention plan, because the shares are assigned to the beneficiaries in a 4-year term.

FIFCO’s Integrated Reports: In line with the ethics and transparency actions with its stakeholders, FIFCO shares and reports annually on the economic, social and environmental results during each fiscal period (from January to December) through the Integrated Reports. These reports follow the guidelines of the International Integrated Reporting Council and the Global Reporting Initiative Standards methodology (GRI).

Prospectus: This is the main tool for investors to make their investment decisions, providing the main characteristics of the issues, relevant information regarding the company’s activity, its financial condition and its managers, as well as the risks associated with the offering, its industry and the environment.

Procedure for the Nomination and Election of Board Members and Auditors: The Election is carried out as stipulated in the procedure.

Board of Directors

WILHELM STEINVORTH HERRERA

CHAIRMAN OF THE BOARD OF DIRECTORS
Year of entry: 1997

Education: Business Administrator.

Work experience: Held different management positions in important companies such as Punto Rojo S.A. Member of other companies or boards of directors: Member of the Board of Directors of INCECA (Panama), CCN (Nicaragua), COMEGUA (Panama), Farmagro S.A. and Maruco S.A. Currently, Chairman of FIFCO’s Board of Directors and Vidriera Centroamericana S. A. (VICESA).

TECHNICAL COMMITTEES

Audit and Risk Committee

This committee is responsible for overseeing compliance with the annual corporate audit and business risk program and for ensuring proper compliance with internal and external regulations applicable to the company. This committee meets at least once every three months and is comprised of the following members:

Sergio Egloff – President

Roberto Truque

Arturo Loría

Sergio Egloff

Roberto Truque

Arturo Loría

Human Capital Management Committee

Establishes specific policies on compensation and other benefits granted to members of the Board of Directors and executives. These policies may consider aspects such as goals, individual performance and the Company’s performance in general, this under a Balanced Score Card (BSC) format, a methodology that weighs compliance with goals and metrics in economic/commercial, internal social, volunteer, social investment projects and environmental impact indicators. This committee meets at least once a year and is comprised of the following members:

José Rossi – President

Phillipe Garnier

Wilhelm Steinvorth

Emilia Amado

José Rossi

President

Phillipe Garnier

Emilia Amado

Wilhelm Steinvorth

Executive Committee

FIFCO’s Executive Committee is comprised of nine directors, who represent the company’s areas.
All directors report to Ramón Mendiola Sánchez, FIFCO’s CEO, who in turn reports directly to the Board of Directors. In this section you will find the name of the directors, their experience and the area they represent within the company.

FSE

ROLANDO CARVAJAL
CEO
Year of Entry: 2003

Throughout almost two decades, Rolando has played a fundamental role in building the vision and passion that define much of what FIFCO is today.

His participation extends to the progress and development of several areas of the company, as well as to its geographic expansion.

Rolando is an Industrial Engineer graduated from the University of Costa Rica, with a solid academic background. He has more than 25 years of experience in business and the food industry, excelling in areas such as marketing and supply chain, among other commercial areas.

He has played a crucial role in the conception and execution of FIFCO’s vision for geographic expansion and market diversification through an innovative product portfolio.

He recognizes the critical importance of strategic alliances when it comes to expanding both the company’s geographic presence and category range.

FIFCO ACCIONES

₡651,00

0.11%

FIFCO ACCIONES

₡651,00

0.11%

Contact information:

Telephone: (506)2437-6700

Fax: (506)2437-7000

Pulled apart. Postal: 2046-3000 Heredia.

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