The term "Corporate Governance" is an expression that may have several meanings. For the purposes of this Code, we will understand it as a set of principles, policies and business practices that allow defining effective and transparent direction, management and supervision structures, in order to create value and build trust with its Stakeholders. Therefore, Corporate Governance is a set of business direction policies and practices that allow defining effective and transparent direction, management and supervision structures.
GRUPO BOLIVAR S.A.’S Corporate Governance gathers the main guidelines that allow building trust for shareholders, directors, managers, employees, customers, suppliers, investors, creditors, controlling entities, and in general Stakeholders of the Company, and the market in which it conducts its activities.
Thus, notwithstanding the provisions in effect in Colombia, GRUPO BOLÍVAR S.A.’S primary interest is to ensure transparency, efficiency and probity of its actions, understood as the basic foundation for the company to act properly, generating elements of sound competition on the market where it operates.
The journey traveled by the Bolivar Family since the onset, aimed at meeting the needs of protection, investment, savings, housing and recreation of Colombian families, engages each Company of this Business Group to daily commit itself to the adoption of good practices of transparency, ethics and behavior (all framed within what we consider Good Corporate Governance) in order, as stated before, to create value and build trust and safety for all its Stakeholders.
In accordance with the above, through the adoption of this GOOD GOVERNANCE CODE, GRUPO BOLÍVAR S.A. intends to inform all its "Stakeholders", about the most significant aspects of business management and administration, disclosing their behavior patterns and making public knowledge of the most important aspects that guide the development of its management.
Miguel Cortés Kotal
President
GRUPO BOLÍVAR S.A.