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You are here: Home > Galp Energia > ... > Governing bodies > Executive committee
     
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Executive committee  
 

The executive committe is appointed by the board of directors and is composed of six of its members
In the current term (2008-2010), the executive committee has the following composition:
Presidente Executivo Chief Executive Officer | Manuel Ferreira De Oliveira

He has a degree in Electric Engineering from the Engineering Faculty at the University of Porto, a Master of Science in Energy from the University of Manchester and a PhD in Energy from the University of Manchester.

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Manuel Ferreira De Oliveira is Galp Energia's chief executive officer, the vice-chairman of the board of directors and he is responsible for the following corporate services: Human Resources Strategy, Investor Relations and Corporate Communication, Development, Innovation and Sustainability, Strategic Planning and Engineering and Projects Cabinet (including the Conversion Project). Manuel Ferreira De Oliveira is a member of the board of directors and an executive director of Galp Energia since April 2006. Before joining Galp Energia, he was the chairman of the board of directors and the chief executive officer of Unicer – Bebidas de Portugal, SGPS, S.A. from 2000 to 2006, and the chairman of the board of directors and the chief executive officer of Petrogal from 1995 to 2000. From 1980 to 1995 he held executive responsibilities at Lagoven, S.A. (subsidiary of Petróleos de Venezuela, S.A. – PDVSA, ex-Creole Petroleum Corporation, a Exxon subsidiary), in the areas of Production, Refining, International Commerce and Corporate Planning including responsibilities as CEO and/or member of the board of directors of BP Bitor Energy (London), Nynäs Petroleum (Stockholm), Ruhr Oil (Düsseldorf) and PDV Serviços (The Hague). Among other current non-executive roles, he is the chairman of the advisory board of EGP – University of Porto Business School. Ferreira De Oliveira has a degree in Electric Engineering from the Engineering Faculty at the University of Porto, a Master of Science in Energy from the University of Manchester and a PhD in Energy from the University of Manchester. He achieved the Associated Professor degree at the University of Porto, where he became a Professor in 1979. His management studies took place at IMD, Switzerland, Harvard and the Wharton Business School in the United States.

Administrador Executivo (CFO) Executive Director (CFO) | Claudio De Marco

Degree in economics and banking at the University of Siena and a master's degree in Management Control at SDA Bocconi. Galp Energia's chief financial officer and member of the board of directors and the executive committee

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Claudio De Marco is Galp Energia's chief financial officer and a member of the board of directors and the executive committee. He is responsible for the following corporate services: Legal Services and Company Secretariat, Accounting and Treasury, Corporate Finance, Information Systems, Property, Insurance and Facilities, Corporate Planning and Control, Investor Relations and Internal Audit (coordination). Before joining Galp Energia, he was head of management, finance and control of Italgas S.p.A. from July 2007 to April 2008. From July 2001 to June 2007, he was head of management, finance and control of Snam Rete Gas S.p.A. Claudio De Marco has a degree in economics and banking at University of Siena and a master's degree in management Control at SDA Bocconi.

Administrador Executivo Executive Director | Fernando Manuel dos Santos Gomes

Degree in Economics and Visiting Professor at Universidade Lusíada of Porto.

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Fernando Manuel dos Santos Gomes is a member of the board of directors and a member of the executive committee and he is responsible for Galp Energia's Exploration & Production business segment since May 2005. He is also responsible for the corporate services of Internal Communication and Institutional Relations. Before joining Galp Energia, he was the chairman of the board of directors of Metro do Porto, S.A. (1993 – 1999), State Counselor, president of the Municipality of Vila do Conde, president of the Municipality of Porto, deputy of the European Parliament where he chaired the Employment and Social Affairs Committee and the delegation for relationships with the member states of ASEAN, he was the vice-president of the European Union's Committee of the Regions, State secretary and minister of Interior. Fernando Gomes has a degree in Economics and is a Visiting Professor at Universidade Lusíada of Porto.

Administrador Executivo Executive Director | André Freire de Almeida Palmeiro Ribeiro

Degree in Business Administration from Universidade Católica de Lisboa. He held various management positions at Credit Suisse First Boston, Londres, including Director (2003-2005).

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André Freire de Almeida Palmeiro Ribeiro is member of Galp Energia's board of directors and executive committee since May 2005 and is responsible for the Supply, Refining and Logistics business segment since May 2008. He is also responsible for the Environment, Quality and Safety corporate service. Before joining Galp Energia, he held various management positions at Credit Suisse First Boston, Londres, including director (2003-2005). André Ribeiro has a degree in Business Administration from Universidade Católica de Lisboa.

Administrador Executivo Executive Director | Carlos Nuno Gomes da Silva

Degree in Electrical Engineering and Computer Science from the University of Porto's Engineering Faculty and a master's degree in Business Administration.

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Carlos Gomes da Silva is a member of Galp Energia's board of directors since April 2007 and a member of the executive committee since May 2008. He is responsible for the Oil Marketing business segment and the Purchases, Marketing and Human Resources corporate services. Before joining the Company, he had several executive roles in Unicer Bebidas de Portugal, SGPS, S.A. where he was member of the board of directors between 2006 and 2007 and member of the board of directors of affiliate companies between 2003 and 2006. Between 2003 e 2006 he was chairman of Associação Portuguesa dos Industriais de Águas Minerais e de Nascente and vice-chairman of Associação Nacional de Indústrias de Refrigerantes e Sumos de Fruta between 2005 and 2007. Carlos Gomes da Silva has a degree in Electrical Engineering and Computer Science from the University of Porto's Engineering Faculty and a master's degree in Business Administration from Instituto Empresarial Portuense and Escuela Superior de Administración y Dirección de Empresas de Barcelona in July 1995.

Administrador Executivo Executive Director | Fabrizio Dassogno

Degree in Civil Engineering at the University of Bologna. He holds several positions, such as chairman of the boards of directors of Galp Gás Natural, S.A., Galp Power and Galp Central de Ciclo Combinado de Sines, S.A.

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Fabrizio Dassogno has been a member of the Board of Directors of Galp Energia since May 2008, being the person in charge of the business section of Gas & Power. Before joining the Company, he was the International Market Director of Eni S.p.A. in the Gas & Power division, Non-executive Administrator of Eni Gas & Power Trading B.V., of GasVersorgung Süddeutschland GmbH (GVS), Germany, and of TIGAZ, Hungary. He also acted as Director of Power Trading and Tolling Management of Eni S.p.A. in the Gas & Power division, from January 2007 to August 2000, and was in charge of Trading and Risk Management at Eni Power S.p.A. from September 2000 to December 2006. Fabrizio Dassogno holds a university degree in Civil Engineering from the University of Bologna, 1984.

The board of directors that was elected for the 2008-2010 term has appointed  an  executive  committee composed of six members.

According to the Company’s articles of association, the executive committee shall be composed of three to seven directors – including its chairman or chief executive officer (CEO) – who are appointed by the board of directors for a term no longer than three years coinciding with the board members’ own term.


Meetings are valid when the majority of executive committee members attend. According to the law and the Company’s articles of association, re-solutions are passed by a simple majority of the attending directors. The executive committee is responsible for the day-to-day management of  Galp  Energia’s  business  in  accordance  with  the  strategic  guidelines laid down by the board of directors.

 

Using the powers delegated by the board of directors according to the Company’s articles of association, the executive committee conducts the performance of the business units and corporate services, supervises these units, promotes synergies between the units, allocates critical resources, manages human resources, formulates the brand strategy and supervises the attainment of the goals set, establishing policies across the Company.

 

The chairman of the executive committee convenes and conducts the committee’s meetings, ensures that its decisions are properly executed, coordinates its activities and makes sure that information flows continually to the non-executive directors.

The board meeting of 6 May 2008 delegated the day-to-day management of the Company to the executive committee, whereby the following powers were specifically assigned
  • To manage the corporate business and take all actions required for the Company’s core business operations (exploration and production, refining, transportation and marketing of oil and derivatives, activities in the gas industry, production and marketing of electric power) that do not lie within the board of directors’ exclusive decision-making preserve or otherwise exceed the powers hereby assigned;
  • To represent the Company in or out of court, with the powers to abandon, relent or confess in any legal proceedings as well as agree to any arbitral awards;
  • To buy, sell or, in any form, dispose of or encumber any rights, namely those relating to equity holdings and property (except for strategic investments or divestments by the Company or any companies it may control, a matter that lies within the exclusive decision-making preserve of the board of directors) but always within the scope of Company’s main activities and provided the involved sums do not exceed the following limits:
    • €50 million, for items included in the plans and budgets approved by the board of directors and still in force, except for strategic investments and related funding that fall within the decision-making preserve of the board of directors;
    • The lesser between 20% of the sums in the annual budget or business plan for the item in question and 10% of the annual budget, in the case of non-strategic transactions not included in the annual budget or business plan.
  • To authorise associates to execute investments within their management powers, as defined by the board of directors;
  • To develop the Company’s technical and administrative structure as well as its internal standards, namely on staff and their remuneration, on the basis of the resolutions of the board of directors which have set the basic organisational and management structure of the Company and the Group;
  • To enlarge or reduce the scope of the Company’s or the Group’s operations in accordance with the plans and strategies previously approved by the board of directors and subject to the powers defined by article 18 of the articles of association;
  • To change the Company’s set-up, open or close branches, delegations or other forms of representation, domestically or abroad, provided these actions do not involve any alterations of the articles of association or the break-up, merger and liquidation of associates or otherwise do not include matters that, according to the Company’s articles of association, are part of the exclusive decision-making preserve of the board of directors;
  • To issue binding instructions to the management of associates, respecting the board of directors’ resolutions concerning their management autonomy, namely in respect of: 
    • The matters within Galp Energia’s exclusive decision-making preserve;
    • The limits of commitments and spending, whether or not they are contained in approved plans and budgets;
    • The rules and procedures regarding matters that should be standardized within the Group;
    • The procedures that should govern intra-groupGroup transactions.
  • To establish or terminate a major and lasting cooperation with strategic partners selected by the board of directors using its exclusive decision-making powers or other companies, in accordance with the plans and strategies previously approved by the board of directors;
  • To appoint Galp Energia’s representatives to the general meetings of juridical persons where Galp Energia has an equity stake or otherwise is a partner and give them the necessary instructions, except for the presentation and voting, in the general meetings of companies directly controlled by the Company, of proposals for the composition or reshuffle of their governing bodies, alteration of the articles of association and dividend distribution, which are matters that lie within the exclusive decision-making preserve of the board of directors, as laid down in the Company’s articles of association;
  • To appoint attorneys with the powers deemed appropriate and within the limits set by the articles of association and the relevant resolution of the board of directors.

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Last update: 24 May 2010

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