According to the OECD, Corporate Governance “is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set and the means of attaining those objectives and monitoring performance.”

portway is committed to the principles of Good Corporate Governance in the State Business Sector, established in the Council of Ministers’ Resolution No. 49/2007, of 28 March.

In general terms, these principles seek to ensure that the following aspects are respected:

1. Transparency of the company’s activities;
2. Setting and rigorous evaluation of strategies, guidelines and objectives;
3. Establishment of policies of social responsibility and sustainable development;
4. Guarantee of appropriate mechanisms for auditing, control and evaluation;
5. Guarantee of compliance with the best governance practices.

These principles are based on more general principles of quality and must include respect for the notions of social responsibility, environmental protection, sustainability and competitiveness, compliance with legislation and concern for the shareholders.

The model for the application of portway’s principles and policies are established by the shareholder ANA for the group’s companies.

portway is committed to the above principles and puts them into practice in its day-to-day business.