Vitro
is committed to follow strict guidelines on corporate governance.
More than 60% of our Board of Directors is composed by independent
directors. Additionally our Audit, Corporate Practices and
Finance and Planning Committees not only provide valuable
advisory suggestions to the Board, but also, they work very
closely with management to assure the highest standards
of corporate business practices for Vitro.
In order to guarantee that Vitro follows a strict compliance
to all legal regulations in Mexico and abroad, including
corporate governance statutes, the company has undertaken
and implemented the following initiatives:
On November 29, 2006, the Extraordinary
Shareholders Meeting of Vitro, approved to amend our By-laws
to comply with current regulations established in the Ley
del Mercado de Valores, (Securities Market Law) as published
in the Periódico Oficial de la Federación (Mexican Official
Gazette) on December 30, 2005 and enforceable as of June
28, 2006 and also with the modifications to the General
Regulations Applicable to the Issuers of Securities and
other Participants of the Securities Market published in
the Periódico Oficial de la Federación on September 22,
2006.
Additionally the Board of Directors approved, in its Board
meeting held on April 27, 2007, the internal guidance regulations
that rule, among other aspects, the purpose, integration,
functions, rights, activities and responsibility of the
members of each committee.
Committee Rules and Regulations
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