Board of Trustees

The Foundation is managed by a board consisting of between three and nine trustees. As the Foundation is a private Portuguese institution of public utility, the majority of the members of the board must be of Portuguese nationality.

The members’ mandates are for renewable five-year periods and vacancies are filled by appointments approved by vote of all members. Today the Board consists of the following members:

 

Audit Committee

The Audit Committee is a body, within the Board of Trustees of the Foundation, responsible for supervising both internal and external audits, as well as receiving and monitoring any complaints regarding the Foundation’s activity.

This committee is composed by the non-executive members of the Board of Trustees.

Composition of the Audit Committee:

  • Emílio Rui Vilar (President)
  • Graça Andresen Guimarães
  • António M. Feijó
  • Pedro Norton

 

Remuneration Committee

The Remuneration Committee is a body, within the Foundation’s Board of Trustees, responsible for defining the policy and its objectives regarding the settling of remuneration and other compensations of the members of the Foundation’s social bodies.

This committee is composed by non-executive members of the Board of Trustees, appointed by the Board of Trustees.

Composition of the Remuneration Committee:

  • Emílio Rui Vilar (President)
  • Graça Andresen Guimarães
  • António M. Feijó

 

Investment Committee

The Investment Committee is an advisory body of the Foundation’s Board of Trustees on investment matters.

This committee is composed by three to five independent members of recognized prestige and reputation, appointed for periods of 3 years.

Composition of the Investment Committee:

  • Rien van Gendt (President)
  • Óscar Fanjul (2018-2021)
  • Caroline Hitch (2018-2021)
  • Philip Coates (2018-2021)

 

Statutory Auditor

The Statutory Auditor is the Foundation entity responsible for account control.

The body is made up of the General Budgetary Director, the Deputy General Director of Social Security and three members nominated respectively by the Lisbon Academy of Science, the National Academy of Fine Arts and by the Bank of Portugal, on behalf of banking and financial institutions. The terms of these latter appointments are five years in length but are always renewable.

The Audit Review Commission and a duly accredited firm of chartered accountants – currently Ernst & Young – are the entities responsible for the constant inspection and verification of Foundation accounts.

Statutory Auditor Members:

  • Mário Manuel Leal Monteiro
    General Director of the Budget, Ministry of Finance
  • Cristina Lobo Ferreira
    Deputy General Director of Social Security
  • Manuel Porto
    Member designated by the Lisbon Academy of Science
  • Natália Correia Guedes
    Member designated by the National Academy of Fine Arts
  • Manuel Maçaroco Candeias
    Member designated by the Bank of Portugal