The corporate and governance structure of the company and of the group, which forms an essential part of the company’s Corporate Governance System, is reflected in the following chart: Such corporate and governance structure of the company and of the group is defined on the grounds described below, which differentiate between the duties of day-to-day administration and effective management, on the one hand, and those of supervision and control, on the other: a) Vesting in the company’s Board of Directors of powers regarding approval of the strategic goals of the group and the definition of its organisational model, as well as supervision of compliance therewith and development thereof. b) Assumption by the chairman & CEO, with the technical support of the Operating Committee, by the Business CEO, with overall responsibility for all the businesses of the group, and by the rest of the management team, of the duty of organisation and strategic coordination within the group.