At Molymet we seek that our collaborators have the tools for their development and learning, a good work environment, through our employee value proposition, attraction programs,
development and retention of talents, both current and future.
The value of people and the conviction that they are the main engine to achieve our purpose translates into daily and permanent work so that the experience of working at Molymet is highly motivating.
For this reason we also focus on strengthening labor relations and offering highly competitive flexible compensation and benefits systems, which is one of our priorities towards the company’s employees.
María Inés Gómez González
Corporate Vice President of Human Resources
SOCIAL RESPONSIBILITY
AND SUSTAINABLE DEVELOPMENT
Board Diversity
Diversity in General Management and Other Management
Organizational Diversity
Salary Gap by Gender
ADMINISTRACIÓN Y PERSONAS
In accordance with the law and the statutes of Molibdenos y Metales S.A., the administration of the Company corresponds to the Board of Directors, which is elected by the Ordinary Shareholders Meeting for a period of three years.
The Board of Directors in office is made up of ten members, who may be reelected indefinitely, does not consider the existence of alternate members and among its powers is to elect its Chairman and Vice President. It acts through the Executive President, who in turn leads nine Vice Presidencies.
DIRECTORS
Mr. George Anastassiou
Mustakis
Chairman
Head Director
Non-independent
Last Reelection: 18-04-2018
Architect
RUT: 6.374.232-5
Mr. Bernhard Schretter
Vice President
Head Director
Titular Independent
Last Reelection: 18-04-2018
Engineer
RUT: 48.174.020-7
Mr. Raúl Álamos Letelier
Head Director
Independent
Last Reelection: 18-04-2018
Bachelor’s Degree in Business
Administration
RUT: 5.545.475-2
Mr. José Miguel Barriga
Gianoli
Head Director
Independent
Last Reelection: 18-04-2018
Civil Engineer
Rut: 6.978.911-0
Mr. Boris Buvinic
Guerovich
Head Director
Non-independent
Appointment: 18-04-2018
Bachelor’s Degree in Business
Administration
RUT: 8.245.774-7
Director appointed to replace the Director, Mr. Jorge Gabriel Larraín Bunster
DIRECTORS’ COMMITTEE
Compensation
COMPENSATION RECEIVED BY THE BOARD AND BY THE DIRECTORS’ COMMITTEE
The 43rd Ordinary Shareholders Meeting, held on April 23, 2019, agreed that the Board’s holding company be 0.2% of the Company’s net profits for each Director, with a cap of US $ 220,000; plus an additional 0.1% for the Chairman of the Board of Directors, with a total cap of US $ 330,000 and an additional 0.05% for the Vice President, with an annual cap of US $ 275,000.
The foregoing represents a total of 2.15% of the Company’s net profits, to be distributed among the Directors, with a maximum amount of US $ 2,365,000.
Likewise, it was approved to set the compensation for attendance at a Board and / or Committee Session, at 18 UTM to the President, 15 UTM to the Vice President and 12 UTM per Director, for effective attendance at a meeting held, with a maximum of two meetings per month, to any event, not attributable to the holding company of the profits that correspond to each Director, and paid from Board to Board.
During fiscal year 2019, gross remuneration for attending Board meetings amounted to US $ 105,509; additionally and for holding fees, Molibdenos y Metales S.A. paid US $ 2,184,267.
Regarding the Directors Committee, the Ordinary Shareholders Meeting approved to set the compensation of its members and the budget for expenses 2019 at the legal minimums.
The fees to be paid to the Directors Committee for their work during the year 2019 correspond to US $ 10,361.
Comparative Compensations
Hired Consulting
During the 2019 fiscal year, no amounts were disbursed for consultancies
Activities
MANAGEMENT REPORT 2019
DIRECTORS’ COMMITTEE
January 29, 2019
ACTION
Examination of the Report of the External Auditors, the Balance Sheet and Financial Statements of the Company and Subsidiaries, as of December 31, 2018.
A positive pronouncement and an agreement to present to the Company’s Board of Directors the Report of the External Auditors, the Balance Sheet and the Consolidated Financial Statements as of December 31, 2018.
Review of the progress of the evaluation process of the External Audit firms for the year 2019.
Agreement on Risk Rating Agencies for the year 2019, to be proposed to the Board of Directors.
Review and proof that the operations with related companies referred to in Title XVI of Law No. 18,046, carried out during the year 2017 are framed as a general rule, either in the agreement of Board of Directors No. 819, dated January 26, 2010, which establishes the General Habituality Policy for Operations with Related Parties; or they correspond to operations between legal entities in which Molymet owns, directly or indirectly, at least 95% of the counterparty property. They comply with current legal regulations, are intended to contribute to the corporate interest and are adjusted in price, terms and conditions to those that usually prevail in the market. The Committee agreed that it is unnecessary to detail these transactions because they are not considered relevant.
Examination of the human resources policies of both the executive branch and the general role, regarding payment and compensation.
Review and approval of the 2018 Management Report of the Committee.
March 19, 2019
Approval of operation with related parties. Electric power supply contract.
Agreement to propose to the Board, and through it to the Ordinary Shareholders Meeting, the external audit firms for the year 2019.
August 20, 2019
Approval of a Report Meeting Program with the external auditors.
Examination with the external auditors of the statement of the interim consolidated financial position of the Company and Subsidiaries as of June 30, 2019 and the Interim Consolidated Statements of results and comprehensive results for the periods of six and three months, ended June 30 of 2019 and 2018, and the corresponding interim consolidated statements of cash flows and changes in equity, for the six-month periods ended on those dates. The Committee gave a favorable opinion regarding the consolidated financial statements as of June 30, 2019 and agreed to present it to the Board of Directors.
November 26, 2019
Analysis of the Internal Control Report prepared by the PwC External Auditors and an agreement that the aforementioned report be presented to the Board of Directors with the recommendation to implement the improvement actions contained therein.
MAIN EXECUTIVES
Excellence is the essential pillar in everything we do. It not only defines our human team, but also the way in which
we work.
John
Graell Moore
Chief Executive Officer
Industrial Civil Engineer
RUT: 06.153.784-8
Took office in: 5/8/1992
Claudia Ester
Avendaño Rozas
Corporate Vice President
of Compliance and Risk
Contador Auditor
RUT: 11.959.266-6
Took office in: 1/8/2018
Gonzalo Alfonso
Bascuñán Obach
Vice President of Commerce and Market Development
Bachelor’s in Business
Administration
RUT: 12.797.030-0
Took office in: 1/9/2016
Luis Gonzalo
Concha Parada
Vice President
of Engineering
Mechanical Civil Engineer RUT: 07.817.539-7
Took office in: 1/1/2008
Miguel Ernesto
Dunay Osses
Vice President of Corporate
and Legal Affairs
Attorney
RUT: 13.232.353-4
Took office in: 1/8/2018
María Inés
Gómez González
Corporate Vice President
of Human Resources
Psychologist
RUT: 10.977.232-1
Took office in: 1/8/2018
Edgar Christopher
Pape Arellano
Vice President of Operations America
Industrial Civil Engineer
RUT: 14.138.397-3
Took office in: 1/10/2018
Guido
Provoost Voets
Vice President of Operations
Europe and Asia
MBA Y PhD en Química
Mechanical Civil Engineer
53102406312
Asume cargo: 1/9/2016
Jorge Antonio
Ramírez Gossler
Corporate Vice President of Administration and Finance
Bachelor’s in Business Administration
RUT: 07.017.179-1
Took office in: 1/3/2004
Juan Cristóbal
Valenzuela Béjares
Vice Presidente
of Information
Industrial Civil Engineer
RUT: 09.750.501-2
Took office in: 2/2/2018
CORPORATE MANAGERS
Ricardo Antonio Araya Cereceda
Operations Manager MolymeNos
Electrical Civil Engineer
14.576.572-2
1/2/2019
Samuel Bernardo
Baeza Cienfuegos
Concentrate Supply Manager
Industrial Civil Engineer
13.333.378-9
8/2/2016
Tomás García Bustamante
Commercial Operations Manager
Bachelor’s in Business Administration
13.882.636-8
1/3/2015
Diego Jorge Jesús
Casali Casanave
By-Products Manager
Bachelor’s in Business Administration
13.441.406-5
1/5/2019
The total gross remuneration received by the managers of Molibdenos y Metales S.A., during 2019 amounted to ThUS $ 10,200 (ThUS $ 10,124 in 2018). During 2019, ThUS $ 1,560 of executive compensation was paid and during 2018, the payment amounted to ThUS $ 1,542. The Company has an annual incentive system for its executives based on compliance with global results and individual performance.
Compensation
The main executives have an annual incentive program, which stipulates the general conditions of the model maximum to distribute, advances and the variables of the calculation of global and individual incentive, in addition to the considerations regarding exchange parity, minimum age and proportionality in the case of licenses.
The average salary mix of the main executives is:
There is no compensation plan that considers payments based on the Company’s share options.
